Cannock Council declines trust's bid to run Prince of Wales Theatre
"It was quite a tight framework that we had to work to, so we can provide extra details that may move the needle," he said."Unfortunately I think we're being told that essentially the assessment process is over, it's now just a case of whether the council are willing to continue discussing the project further with us."The 49-page report concluded the group's proposal reflected "commendable community ambition and intent" but did not provide the "level of financial assurance, operational planning or delivery capability required for a sustainable transfer".The theatre, which was earmarked for closure last year to reduce a £1.3m gap in the council's budget, is currently closed while regeneration work takes place nearby.Maintaining the building would also require investment of more than £2m over the next three years, according to the authority.
'Difficult and challenging'
Council leader Tony Johnson said he was disappointed by the recommendation not to take the trust's proposals further but it would be "reckless and irresponsible" to ignore the report's findings."I know how much work and enthusiasm the people behind CCTT put into this and I, like thousands of others, was desperate for them to succeed and give us a viable plan we could support which would see the Prince of Wales Theatre reopen and thrive," he said."We are being asked to invest millions of taxpayers' money in refurbishing the theatre and risk leaving the council exposed to a potentially crippling financial burden if the trust cannot break even."The report recommends not proceeding with the community asset transfer and will be discussed by the council in September.
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