Page three The current context would suggest that a refurbished building, along the lines suggested in the feasibility study, would be able to generate sufficient income to meet its liabilities. However, the assessment to date is not sufficiently robust to enable a decision on this to be taken without a more detailed economic appraisal being completed. Such an economic appraisal would also be required by potential funding bodies and would clearly establish strategic fit, need, deliverability and sustainability.At this time, the Committee must decide on how to move forward. The following section sets out options for consideration.Option 1 – Proceed with refurbishment based on the feasibility study.As outlined above, the Feasibility study has set out three main options. Its preferred option is to refurbish the Floral Hall and integrate it within the existing Zoo business at an estimated cost of £5m.The study believes that the building would be sustainable in economic terms. However, it also alludes to the need for additional work to establish the case and define costs more accurately.Option 2 – Seek to De-list the Floral Hall and demolish the buildingThe Committee will be aware that the refurbishment of the Floral Hall has been considered on several occasions over a number of years and that none of the proposals have resulted in the development of a deliverable or sustainable project. Clearly, given the condition of the Floral Hall the situation cannot be permitted to continue indefinitely. An alternative route to refurbishment would be demolition. However, the building is listed. Should the Council determine that the best course of action is demolition it would be necessary to make application to have the building de-listed. Our indications are that this would be resisted by the NI Environment Agency and potentially other, non statutory, but interested parties.It would be the view of Officers that without having exhausted all other options that de-listing and demolition is not a viable option at this time. However, it would be appropriate to consider this within a wider economic appraisal process.Option 3 – Adopt, in principle, the preferred option outlined in the feasibility study, subject to a more detailed economic appraisalWithin this option the Council is acknowledging the conclusion in the feasibility that there are grounds to support the view that the refurbishment of the Floral Hall is both deliverable and sustainable. By endorsing this option, subject to an economic appraisal, the Committee is presenting an opportunity for all stakeholders and interested parties to contribute to this project.Within this option it is proposed that:• An economic appraisal be commissioned and completed;• The findings of the economic appraisal are presented to a future meetingof the Parks and Leisure Committee for consideration;
Posted on: Sun, 11 Jan 2015 16:48:41 +0000
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