Recreation and Aquatic Facility progress update
At the Council meeting held on 23 February 2021, Council deferred a decision to endorse the Recreation and Aquatic Facility (RAF) Business Plan until Council receives the report from Deloitte in conjunction with Warren Green Consulting for the independent financial review of the Operational and Feasibility Business Case, so that Council has time to consider the review.
At the November meeting Council requested the CEO to procure an independent review of the business case documents. This review was to be conducted by suitable independent and relevant industry and financial experts. The review report is expected to be completed in late February and considered by Council at the March Meeting.
The initial advice is that the consultants have not identified any fundamental flaws that would prevent the project progressing to the next stage.
Additional information about the Business Case and Business Plan can be found in the Frequently Asked Questions section of the RAF project page on the City’s website.
The City is committed to conducting due diligence at every stage of the project, and this will continue as the project progresses.
The City is currently continuing to seek the additional funding required in order to progress the project to the design phase. Further negotiations are taking place.
The Section 3.59 Business Plan is expected to be presented to Council again when it can be considered concurrently with the Independent Business Case report.
At the November meeting Council requested the CEO to procure an independent review of the business case documents. This review was to be conducted by suitable independent and relevant industry and financial experts. The review report is expected to be completed in late February and considered by Council at the March Meeting.
The initial advice is that the consultants have not identified any fundamental flaws that would prevent the project progressing to the next stage.
Additional information about the Business Case and Business Plan can be found in the Frequently Asked Questions section of the RAF project page on the City’s website.
The City is committed to conducting due diligence at every stage of the project, and this will continue as the project progresses.
The City is currently continuing to seek the additional funding required in order to progress the project to the design phase. Further negotiations are taking place.
The Section 3.59 Business Plan is expected to be presented to Council again when it can be considered concurrently with the Independent Business Case report.
For more information about the Recreation and Aquatic Facility, visit the RAF project page.
UPDATE: The Business Plan will be presented to Council at a Special Council Meeting on Monday 15 March 2021.
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