Decision - Saltdean Lido Restoration Project

RESOLVED:

1)        That Members note the progress made by SLCIC including on Phase 1 of the restoration.  The pool is scheduled to be open for public use  this summer (as indicated in 3.4)

2)        That Members note SLCIC has submitted a Stage 2 Heritage Lottery Fund application for £4.2 million towards the restoration of the main Lido building.

3)        That Members note SLCIC has identified the estimated cost of the restoration of the main Lido building to be £9 million. The CIC have applied  for Charitable Trust status to assist their funding strategy to meet the total cost.

4)        That Members approve entry into the conditional Agreement for Lease with SLCIC. The conditions are listed in paragraph 3.12.

5)        That Members approve entry into the 60 year lease for the Lido when the conditions are satisfied in accordance with the Agreement for Lease.

6)        That Members note the restoration of Saltdean Lido will require the existing library building to be demolished. However, SLCIC have not been able to identify funding for the library section of the restored building to be built and fitted out, nor the provision of a temporary library during the works.

7)        That Members approve funding of up to £0.7 million for temporary library provision and a new library in the restored Saltdean Lido and agree to include this commitment in the capital programme 2018/19.

8)        That Members approve the investment in 2.7 will be funded through borrowing with the financing costs estimated to be £0.040 million per annum, and agree to this commitment being included in the Budget from 2018/19.