♦ as their only or main residence , or,
♦ as a refuge by persons escaping domestic violence, or,
♦ during term time by students, or,
267.7 As this part of the refurbishment focuses on the heritage element of the building, the Maltings has applied to the Heritage Lottery Fund (HLF) for a large element of the funding required to carry out Phase 2. The application has been submitted pending a decision from the Board by 30th March. If successful, this could provide up to £300,000 towards the cost of the works. In addition, funding has also been secured from Arts Council England towards the provision of tiered seating, lighting and sound facilities for the newly created performance space. The Maltings continues to apply for grant funding from other various sources available to it.
267.8 To date, the Maltings has received £306,000 from the Council towards the initial Phase 1 costs of £918,000. Phase 2 is anticipated to cost £697,964 and under the terms set out by the Council, if sufficient funding can be secured by the Maltings then Waverley has pledged to fund one third i.e. £232,655. A budget of £217,000 has been identified in the 2006/7 Capital Programme with the balance of £15,655 being met from slippage from the 2005/06 Programme to meet the total sum, should the Maltings secure the funding necessary. If successful it is anticipated that the seating, lighting, sound systems will be installed in April/May, the heritage works between June to September and the remaining fit out of the dressing rooms, toilets and bar in early 2007.
267.9 The following risks have been identified:
· Inability to raise sufficient partnership funding to complete phase 2.
· Increased costs associated with phase 2 if there is a delay in securing partnership funding
· Overspend on project once works begin.