THE building of the Meridian Leisure Centre in Louth has come in on budget, after an insurance bond of £300,000 was paid to East Lindsey District Council by the bondsman.
The council says it took out a bond at the beginning of the build ‘to ensure that if a contractor was unable to complete any work there was no financial risk to the taxpayers’ of East Lindsey.
A council statement said: “The bond was initially taken out against Linpave and after the company went into administration it was passed onto the parent company UCS Civils, which also went into administration just eight weeks before the contract was due to complete.
“As a result of this, the Ccuncil incurred the extra £300,000 of spend on the project as additional contractors were brought in to complete the works and through lost revenue, as the centre opened eight weeks later than planned.”
Coun Adam Grist, ELDC’s Portfolio Holder for Leisure, said: “I pay tribute to the officers who have worked extremely hard to ensure that this bond has been settled for the taxpayers of East Lindsey. This means that despite the unforeseen delays and all the associated costs this build has been delivered on time and in budget as we promised.
“Since opening the Meridian Leisure Centre has been very popular, exceeding both membership and visitor targets. We must work hard to ensure this success continues.”