Watershed's revamp underwritten by Bristol City Council
- Published
Watershed is a popular venue in Bristol
A revamp of an arts venue in Bristol is to be underwritten by the city council.
The Watershed's £12m transformation will eventually see a five-storey extension added. Phase one includes a fourth cinema screen and a new cafe.
About £500,000 for the first phase is being backed by Bristol City Council after the money was approved by the West of England Combined Authority.
But, Watershed bosses said the work might not take place immediately because of coronavirus.
Watershed CEO Clare Reddington said "times have moved on since our application" and that the pandemic has caused "huge challenges for the culture sector in Bristol".
"Watershed's priority is to stabilise the business and ensure we have a sustainable model going forward, and the city and our other funders are aware that this planned expansion may not now take place straight away," she said.
In financial terms, the city council had to back the revamp as the £500,000 from Weca could only be accessed by a unitary authority.
Bristol deputy mayor Craig Cheney said the council needed to be the grant recipient on behalf of Watershed Arts Trust Ltd and underwrite the repayment, the Local Democracy Reporting Service said.
A report to members said: "An appropriate agreement will be put in place to ensure that Watershed pays the council back in full.
"The project will expand Watershed's facilities to support the growth, inclusion, productivity and profile of Bristol's cultural and creative digital cluster and increase diversity of Bristol's cultural film programmes and audiences."
The £500,000 amounts to about a third of the cost of the redevelopment's first phase.
Planning permission for Watershed's fourth cinema and new cafe was granted by the city council in July last year.
It will include a new ramped entrance with powered doors while the first-floor cinema toilets will be extended and made gender neutral, with a dedicated baby-changing area and increased provision for disabled customers.