£1m grant call to help secure future of theatre
AN URGENT £1million grant is needed to secure the future of the Citizens Theatre.
A £21.5m scheme will revamp the Southside theatre, building an “theatrical, creative and cultural hub” for surrounding communities.
But a funding gap has been identified which could see funders pull out of the project.
Glasgow councillors are being urged to back handing over £1m to keep the work on track.
The Category B-listed theatre, which is a council-owned asset leased to Citizens Theatre Ltd, closed in June 2018 for redevelopment.
There is currently a gap between the estimated project cost and confirmed funding, with more than £20m, including a £5m commitment from Glasgow City Council, already secured.
Richard Brown, the Council’s Executive Director of Regeneration and the Economy, said: “The redevelopment and restoration will be the first comprehensive renovation in the building’s 140 years.
“It will secure the future of an ageing and vulnerable building as an essential theatrical, creative and cultural hub for both the city and local communities.
“The redevelopment is a beacon project in the Laurieston regeneration area and is an urgent response to a deteriorating building.”
Some of the funders have committed to increasing their contribution to bridge the funding gap.
Mr Brown’s report to councillors states an extra £1m would close the gap to an acceptable level, allowing the project to progress. It would also “lock down” other funders’ increased offers.
The total £21.5m cost includes contingencies of £1.4m. This is based on achieving engineering and re-tendering savings of £1.03m.
Mr Brown said: “The risk of not achieving this cost saving balanced against the risk of not progressing the works as soon as possible is seen by all of the funders as the lesser risk.”
Further delays would see the possibility of funders pulling out, landed tenders becoming out of date and risks associated with construction based inflation.
Councillors will consider the proposal on Thursday.