Content

12.1

The report provides a progress
update and current funding position for the Castle Project, the
centrepiece and biggest grant share of the Gateway to
Sheffield’s Levelling Up Fund bid. In addition, an update of
the other two projects included in the Gateway to Sheffield (S1 Art
Space and Harmony Works) is also included in Appendices 1 and
2.

 

 

12.2

RESOLVED
UNANIMOUSLY: That the Transport,
Regeneration and Climate Policy Committee:-
 

(a) 
notes the extensive and exciting progress on the
Castle Project, with much greater archaeology finds than originally
expected;
 

(b) 
notes the strategic importance of a new park in the
centre of Castlegate from an economic
and regeneration perspective as well as community, health/wellbeing
and environmental perspectives;
 

(c) 
notes the extension of the work programme and budget
update for the Castle project;
 

(d) 
notes initial proposals for maintaining the new
park;
 

(e) 
notes that members of Transport, Regeneration and
Climate Policy Committee and Economic, Development  Skills Policy Committee will be consulted on any
additional funding proposals following officer discussion at City
Futures Programme Board; and
 

(f)   
notes progress on the S1 Artspace and Harmony Works
projects.

 

 

12.3

Reasons for Decision

 

 

12.3.1

This report provides a progress
update on the Castle Project (part of the ‘Gateway to
Sheffield’ Levelling Up Fund approved funding. It brings to
the Transport, Regeneration and Climate Committee some important
progress milestones as well as the current timescales and funding
position and proposals to mitigate it.

 

 

12.4

Alternatives Considered and Rejected

 

 

12.4.1

These options relate to the
funding shortfall identified in section 2.4

 

 

12.4.2

Not increase the budget from
the currently approved
This would mean that the
project could not be delivered. This is linked to the nature of the
cost increases as well as the significant amount of incurred costs
in preparation for the full works for this complex
project.

 

 

12.4.3

Seek to secure additional
funding to increase the budget to meet the identified
shortfall
Given the size of the shortfall
and the nature of the additional costs, further value engineering
is no longer an option. The scope cannot be reduced. Page 358 11
The preferred option is to identify internal SCC funding resources
(including additional Gainshare). Given how far the project has
progressed and the financial commitment already made to the
contractors, it is not possible to seek external funding at this
stage.

 

 

12.4.4

Preferred Option:
The preferred option which
represents the best way of delivering the contracted LUF, SYMCA and
Environment Agency outputs as well as future proof the park for
future generations is b) above.