Costs for the major new hub have increased since original forecasts were published
Ashfield District Council will need to borrow £200,000 more than originally expected to fund new outdoor facilities at King’s Mill Reservoir.
When the authority first put forward its business case for the project in 2020, it was expected to cost around £3.19m. The exempt paper shows the council was initially due to borrow slightly above £456,000 to fund the construction of the new restaurant and sailing club. And the remainder of the budget will be supported through additional cash of £810,257 from the Towns Fund Construction Centre project.
“It has been identified that… the revenue model will need to be varied to confirm an increase … in borrowing levels.”
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