Pittville Park cash goes to Regent Arcade
A cash pot of £300,000 that was destined for community schemes in Cheltenham will bankroll the recently revamped Regent Arcade instead.
The decision to withdraw the money from a regeneration scheme at Pittville Park sparked uproar when it was announced last year.
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Regent Arcade
The cash was then earmarked for other parks in the town, before it was suggested it was used to support a £3 million refurbishment of The Everyman theatre.
Now, finance bosses at Cheltenham Borough Council say the money is needed to cover its share of the shopping centre’s £20 million revamp – even though it hopes to sell it.
Mark Sheldon, the council’s chief finance officer, said the Pittville Park funding had always been dependent on a successful Lottery bid.
He said: “The approval of money for Pittville Park was agreed by council with the following caveat – if Heritage Lottery Funding is unsuccessful, full council will reconsider the allocation of funding.
“Since the bid was unsuccessful, this is what the council has done.
“The council has to make decisions based on priorities given the funding available. As such, the highest priority is to fund our potential obligation towards the Regent Arcade refurbishment.”
The borough council has owned the freehold of the Regent Arcade since its was built 25 years ago and leases the centre to Canada Life.
Despite attempts to sell its cut last year to free up cash for its Civic Pride scheme, negotiations with Canada Life collapsed in November.
The failure to reach a deal means the council could now be liable to pay its share of the arcade’s refurbishment, which has included a new 160-metre polycarbonate roof, escalators and lifts.
Officers holding the purse strings at the Municipal Offices have budgeted for costs of up to £350,000 but have admitted the total cost could rise to £500,000. John Webster, cabinet member for finance, likened the council’s liability to the Regent Arcade to that of a landlord’s to a tenant. He said: “Like in that case, we have certain obligations we have to meet.”
The dream of revamping Pittville Park fell flat in April. The cash would have been used to restore the stonework of the Pump Room, resurface Pittville Gates and install traffic calming measures in Evesham Road.
Diane Hibbert, (PAB, Pittville), a member of the Friends of Pittville Park, said: “The park is in dire need of improvement. The money really ought to have gone to a project which would have benefited the community directly. Unfortunately the Regent Arcade does not fall into that category.”
But she said residents and friends of the park would not give up on efforts to secure funding for improvements.
“We are determined that this work should go ahead,” she added.
“We will be working hard to find funding from local businesses and other sources. But the council will have to do its bit too.”
A separate £250,000 grant and £1 million loan for The Everyman was agreed by the council last week.
Mr Webster said: “Because The Everyman refurbishment will not happen until next year, the loan and grant form part of next year’s budget.”
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by peter Wood, Truro
Monday, February 22 2010, 2:51PM
“I would guess that part of the costs of the refurbishment, are capital costs and these are borne by the landlord (Canada life) and part are meet by the tenants of which Cheltenham borough council are one, these costs are no doubt service charge items, the costs of which need to be seen in the context of all the money CBC have made out of the car park for the last 20 plus years .”
by Pittville Park fan, Pittville Circus
Saturday, February 20 2010, 11:01AM
“I cannot believe that £20m was spent on Regent's Arcade. It is shocking to think that the borough council finds itself choosing to spend this on a commercial enterprise, yet it can let one of its real responsibilities fall into a parlous state. It is all very well trying to fob us off with new fishing platforms, community bridges, childrens' play equipment and such like. They are important, but the key elements of the park - historic Pittville Gates, gates and railings around the entire park , the stone bridges, pathways are allowed to deteriorate almost beyond redemption. When will some real commitment be shown to this park which, as others have said, is central to Cheltenham's identity?”
by St Pauls Observer, Cheltenham
Friday, February 19 2010, 8:52PM
“This just about takes the biscuit!
The council never really cared about the park, they just allocated funds in it because they thought they could make a bob or two out of it.
Now that prospect has gone, they have put the money into revamping a tired arcade in the hope of selling their share at a profit.
hey have given no thought to the residents from near, far and wide who use this wondrful if not a bit down at heel rescource every day.
Perhaps they would like to state when they intend to move beyond "make do" and mend and invest some real money in a valuable community facility.”
by Jo, Pittville
Friday, February 19 2010, 7:00PM
“Every day this week Pittville Park has been buzzing with activity, children with parents or grand-parents enjoying this wonderful facility.
It is in desperate need of attention in so many areas. We feel completely bemused by the Council hi-jacking the 'ring-fenced' funds which would have contributed greatly to the community.”
by HW, Cheltenham
Friday, February 19 2010, 6:57PM
“I think the Regent Arcade looks cramped and hideous. Not a patch on the iconic architecture of the 80's. And where is the glass lift??
As for ploughing the £300 000 into this ill-conceived make-over, shame on the Borough Council!”