Further to Minute No. 68 of the meeting held on 8 December 2011, the Cabinet considered the report of the Strategic Director - Place which set out the history of the Southport Cultural Centre project, the potential additional cost and time overrun identified within the project: and the measures taken to mitigate this additional cost and time overrun.
RESOLVED: That
(1) the potential ‘worst case’ cost scenario now identified in respect of the completion of the project be noted; and
(2) the Strategic Director - Place be requested to pursue all potential means of mitigating cost and time overruns, including;
a. where possible reducing specifications to the minimum acceptable level for a ‘fit for purpose’ facility;
b. undertaking any further possible Value Engineering exercises to maximise cost savings;
c. in conjunction with the Head of Corporate Finance and ICT, explore further funding arrangements to mitigate the increase in final project cost; and
d. in conjunction with the Head of Corporate Legal Services, explore the potential for minimising and/or recovering additional costs incurred.