A COUNCIL boss who also serves as a director of Bradford Live has said a number of reasons - including Brexit, Covid and the Ukraine war - explain why the cost of the scheme has soared.
Last week, Bradford Council revealed the overall cost of the project to transform the city's old Odeon cinema into a 3,800-capacity music and entertainment venue had climbed to £50.5 million.
Of this, £43.75m is from the Council - made up of grants and loan cash - and the remainder is from West Yorkshire Combined Authority, the Department for Culture, Media and Sport and the National Lottery Heritage Fund.
These figures were finally released nearly two months after the Telegraph & Argus submitted a Freedom of Information (FOI) request to the Council asking for them.
The figures were not initially given to the T&A by Council officials in early-May - so our journalists lodged the FOI request on behalf of the public. This FOI process was protracted because last month the Council said it needed more time to "reach a decision on where the balance of the public interest lies".
In 2019, the T&A reported that the overall cost of the Bradford Live scheme then was £22.7m. The figure was reported to have been £15.6m in 2016.
The T&A asked Bradford Council why the overall cost had soared - and a written statement was provided by Councillor Alex Ross-Shaw, portfolio holder for regeneration, planning and transport, and a director of Bradford Live.
He said: "Bradford Live is reflective of our ambition for the district, and alongside a number of major developments across the city centre is really starting to show the shape of Bradford for the future.
"A number of general factors including Covid, Brexit, the invasion of Ukraine and record inflation have all had an impact on the overall cost of the project. The construction industry itself has been severely affected by high inflation rates, surpassing general headline rates, which has affected many major building projects in recent years.
"Given Bradford Live was derelict for a number of years, it has faced a number of additional issues including the discovery of asbestos and rotten flooring on balconies and foyers, which added to the cost.
"The end result, however, is a spectacular building; a huge asset for Bradford and West Yorkshire, brought back to life and saved for future generations."
During a recent Council meeting, Cllr Ross-Shaw said the Council loan given to the Bradford Live project would be "repaid with rental income from the property and screen rent".
He said the expectation was that the loan would be repaid.
The T&A also asked Bradford Council, as owner of the Bradford Live building, when it expects the venue to open. A Council spokesperson declined to answer that specific question, saying it would need to be put to the NEC Group "as operators of the venue". The opening date was once planned to be in 2020.
The NEC Group has not publicly commented on its involvement with Bradford Live for several months. The Birmingham-based firm declined to issue a statement for this story.
No shows or events are currently listed under the 'what's on' section of the Bradford Live website.
Last week, a Bradford Council spokesperson said: "Bradford Council and Bradford Live are pleased to announce that construction work at the new Bradford Live venue has reached 'practical completion'.
"This means all the major building work at the former Odeon cinema in the city centre has been finished and it is ready for the final fit out.
"After being empty for around 20 years, the art deco building, which originally opened in 1930, has been beautifully restored and transformed into a world-class, 3,800-capacity music and entertainment venue.
"The legal processes relating to handover to the NEC Group will now be progressed."
According to Companies House, Bradford Live is a private limited company by guarantee, meaning it does not have shares or shareholders, with Bradford Council currently listed as the only 'person of significant control' for Bradford Live.
In 2017, Bradford Live announced the NEC Group had been chosen as operating partner for the major project, with the NEC Group stating it would take a 30-year lease on the building and invest £2m towards the conversion costs.
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