Decision details

Resolved

(1)           That the expenditure of £1 to secure the transfer of The Mill Arts Centre from Oxfordshire County Council to Cherwell District Council in line with the Executive decision of July 2018 be approved.

(2)           That the establishment of a revenue budget of £50,000 to cover costs of transition funding and arrangements in 2018/19 to be funded from general reserves be agreed and it be noted future funding would be considered when setting the budget and medium term financial plan in February 2019.

(3)           That it be noted that immediate remedial works (expected early in 2019/20) in the region of £250,000 may be required, with further phases of works due later in 2019/20 or the 2020/21 to ensure that the building is fit for purpose and will be subject to detailed capital proposals as part of the budget setting process and medium term financial plan for 2019/20 to 2023/24.

(4)           That it be noted that an officer working group would be established to establish the options and Business case for any further investment into the site to ensure that the Trust is financially more sustainable in the medium to long term.

(5)           That it be noted that the offer to acquire the asset is subject to a restrictive covenant from Oxfordshire County Council to ensure that at least 80% of the site is used for cultural purposes otherwise state aid applies.

(6)           That the final agreement for the legal agreement to transfer the asset be delegated to the Monitoring officer for Cherwell District Council in consultation with the Interim Executive Director of Finance and Governance.