Dramatic increase in cost of Hertford theatre project

The refurbishment project at Hertford Theatre will now cost around £30m

A council is hoping to avoid 'bankruptcy' by ploughing an extra £6m into a theatre building project.

The budget to expand and refurbish Hertford Theatre has rocketed to £30m - 60% more than the original figure.

According to a report, the enlarged theatre will start to return an income for East Herts Council within two years of opening.

It said attempts to scale back the project could have left finance chiefs unable to pay back loans.

At a meeting last week, finance and leisure officials revealed there is a list of East Herts Council assets worth around £10m which could be sold off to fund the nearly-finished scheme.

Sarah Hopewell, the council's cabinet member for wellbeing, said: "Against a backdrop of already extremely stretched finances, the recommendation to spend a further £6m has not come lightly.

"We explored multiple options for ways of making savings, including not opening one of the cinemas or not fitting out the studio."

She added if the project were not completed, there would have been a considerable loss of revenue from ticket and refreshment sales.

Ms Hopewell also revealed there had been "some successes" in the search for alternative sources of funding.

The final design of the proposed Hertford Theatre could change from this artist’s impression

One of the big issues with non-completion, according to Ms Hopewell, was that the council would still have needed to pay back money borrowed already for the project and the financial drain would "quickly bankrupt the council".

Deputy leader of the council, Mione Goldspink, accused the previous Conservative administration, who proposed the theatre project, of being "overambitious".

The authority has mapped out spending worth £95m on four major projects in recent budgets, including the theatre scheme, two leisure centres and a new car park.

"If the criticism of us is that we were too ambitious, then I think we will take that on board," said the leader of the opposition Bob Deering.

"What is a council supposed to do for its residents? Just hide under a stone?"

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