The report shows that £2.8m is needed to cover costs of making safe the old Tyrls Police Station which would include stripping out the asbestos, disconnecting the electricity from the Magistrates’ Court building and other repairs and compliance works.
The report states that £4.4m of the £17.2m of Regional Growth Fund cash, to help stimulate growth and investment in the city centre, is earmarked for the Tyrls site.
But the report does warn that there is also a “high risk that the Council will face significant costs in relation to the future development of the Tyrls site”.
“There is an obvious urgent requirement to progress and implement proposals for the (Tyrls) site,” the report states.
“The direct RGF investment in the site, along with the availability of Business Rate Relief, offers a significant opportunity to help mitigate risks associated with any proposed development.”
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