Decision details

The Castle Park project within the Council’s capital programme is delivering improvements to the areas known as Sworder’s Field and Waytemore Castle Gardens. The partnership work with stakeholders including Bishop’s Stortford Council and the National Lottery Heritage Fund (NLHF) means that the project has been funded through a variety of organisations including East Herts District Council. Additional funds have been raised after cost increases relating to the Pandemic and Brexit following significant increase in materials and construction costs and then an unforeseen subsidence issue. A solution was agreed to secure the funding gap by selling some
assets (Community centres) to one of the partner organisations, Bishop’s Stortford Town Council as part of an Options Agreement. The last of three community centres is now due to be sold. Capital receipts are required from this sale to secure the final stages of the project after further additional costs relating to unexpected archaeology, deterioration of a repurposed building and environmental pressures.

That (A) the sale of St Michael’s Mead community centre pending trigger by BSTC as defined by the Options Agreement be agreed;

(B)  £125,000 of the capital receipt from the sale of St Michael’s Mead community centre contributes to the funding gap for the Castle Park project; and

(C) the option sum of £15,000 and £30,000 (deduction in liabilities) is deducted from the sale of this last remaining centre at time of purchase