Issue - meetings

(Reason: Part 2 - Private: LGA 1972 - Sch 12A Paragraph 3 - Information relating to the financial or business affairs of any particular person (including the authority holding that information))

Consideration of the recommendations of the Overview and Scrutiny Committee in respect of funding arrangements for the replacement Angel Leisure Centre.

(Reason: Part 2 - Private: LGA 1972 - Sch 12A Paragraph 3 - Information relating to the financial or business affairs of any particular person (including the authority holding that information))

This report considers the potential financing arrangements of the new Angel Leisure Centre facility.

(Reason: Part 2 Private: LGA 1972 - Sch 12A Paragraph 3 – Information relating to the financial or business affairs of any particular person (including the authority holding that information))

The report of the Director of Street Scene, Leisure and Technical Services considered the potential financing arrangements of the new Angel Leisure Centre facility.

Members received an update on progress, including current cost information and the approach to refining figures through the Royal Institute of British Architects (RIBA) stages, recognising the importance of securing a viable and high-quality facility for residents.  It was reported that work was ongoing to minimise any borrowing requirement.

Information was provided on borrowing considerations, including reference to Public Works Loan Board (PWLB) requirements and the need to demonstrate a feasible and realistic repayment approach.  It was noted that the intention was to present Members with further updated information at full Council in October 2026, including alternative options and associated costs, thereby facilitating an informed decision by Members.

Questions were raised regarding potential future asset disposal and the factors affecting valuation, including planning considerations and site constraints, were explained, with reference made to the implications of the Local Government Reorganisation and associated timing.

On the grounds of supporting minimising borrowing and ensuring Members were kept informed through regular updates and were able to maintain effective oversight throughout future stages given the strategic significance of the project, the Committee

RECOMMENDED*:  That

(1)          Officers continue to work to minimise the requirement for borrowing as part of their preparations for the submission of final project details to full Council on 20 October 2026 and thereafter;

(2)          monthly updates be provided to all Members of the Borough Council on project progress ahead of full Council on 20 October 2026, together with an all-Member briefing on 22 July 2026; and

(3)          the Overview and Scrutiny Committee maintain oversight of the future stages of the project and receive an update report on the progress at future meetings following full Council on 20 October 2026.

*Recommended to Cabinet