Finance for New Building at Playing Field
The Parish Council wish to proceed with the replacement of the portacabin buildings at the playing field. The old facilities have now been removed with their contents being placed in temporary storage. The Council has undertaken a tendering exercise for a brick-built replacement. The lowest tender places the cost at around £40,000.
Fundraising activity in the last few years means that approximately 50% of this sum is available to support the Parish Council. The Council is now seeking approval to borrow the remaining £20,000. It should be emphasised that this would be a worst-case scenario and it is unlikely that the full amount, or anywhere near, would be required. The Council has an existing grant application under consideration by the SKDC Community Fund. This could yield up to £6,000. There is every expectation that VAT on the construction costs could be reclaimed by the Council. We are currently seeking advice on this issue. Lastly, the Council is looking to provide further support from existing balances. Nonetheless we want to cover every eventuality and will consequently be seeking approval to borrow the full £20,000.
Repayment of this loan, if required, will not be met from increased Council tax. Instead we have every expectation that ongoing fundraising efforts will cover all costs.
If anyone wants to make representations about these proposals they should send them to email@example.com A decision on the proposals will be considered by the Council at a special meeting to be held on Friday 26 th July at 19.00 at the village hall.
Clerk to the Council