Assurances on major upgrade

£1.5m for transformation project

Councillors have scrutinised plans which will see £1.5m continue to be set aside for Perth Theatre in the next financial year.

The arts venue is on course to reopen in November 2017 following a major £16.6m refurbishment and extension project carried out over the past two years.

But sums of cash to ensure that the building is properly kitted out - costed at £1.5m - are still being sourced from the public, trusts and other funds. Currently £422,000 of that sum has been committed.

Councillors asked for more details on the remaining figure and the potential impact there could be on the council, which has underwritten a loan for £1.5m.

They were told that theatre’s bosses, Horsecross Arts, expects to have raised about £1m of the sum added to loan charges. Horsecross says it will meet the charges by ending a lease on premises at Rose Terrace.

The additional cost emerged from the entrance point at the theatre.

Council leader Ian Miller told the meeting: “They (Horsecross Arts) are quite confident they will be able to raise the full funds (of £1.5m).

But Cllr Ian Campbell said: “The project is quite a difficult one for them to fund the project fully. External funders could rely on another funding stream.”

Officer John Symon assured members: “The position at Horsecross is that it needs £1.5 million for the project. The council agreed to underwrite that and borrowing was agreed and around £500,000 remains to be found.

“There is a confidence that Horsecross will have that £1m but there is an inevitable degree of uncertainty for the remaining £500,000. That thinking is a reasonable position.”

There is a confidence Horsecross will have that £1m but degree of uncertainty for remaining £500,000