We are pleased to report that on Monday 12th November, we had a very productive meeting with Councillor Rowena Hay , Mike Redman – CBC Director of Environment, Dominic Stead – CBC Head of Property and Asset Management and Becky Conway- Property and Asset Management officer, facilitated by Steve Laird of Fathom Consultancy.
Council attendees made it very clear that they had full confidence that the Lido is being run well in the best interests of all our users, the charity’s beneficiaries and were supportive of renewing the trust’s lease of the lido on a longer term. They outlined the potential for the Lido Trust to access ‘prudential borrowing’ through the authority via the Public Works Loans Board, which could assist with financing of future capital investment requirements and development, based on a sound business case.
In accordance with the Council’s policy for support to the third sector, the authority must first arrange a financial valuation of the Lido. The principal terms on which the new lease would be granted will then need to be agreed between us, before being signed off by the Council. This will involve consideration by a Council member cross-party working group, which is not decision-making, but will provide a steer to the Council’s Cabinet, which will make the final decision on the new lease arrangement. The Council requires this to be consistent with the principles applied to other third sector organisations, as they have a duty to be fair and equitable to all their tenants, including third sector partners. We will now be jointly working towards having the new lease in place before 1st April, 2019.
We would expect to be in a position to let you have a further update in mid-January