Sleaford cinema development fund grows to £5m as talks continue with potential operator
There is fresh hope of seeing a cinema development in Sleaford after North Kesteven District Council put aside an additional £2.2million to fulfil its aspirations as part of its latest budget for the coming year.
By dedicating this new allocation within its £310million 10-year capital programme for targeted investments in projects district-wide, and adding to the £2.8million already earmarked, the council has built a total fund of £5million towards the cinema scheme.
The authority says this ensures that it can move forward as swiftly as possible when ongoing discussions with a potential operator are concluded.
Council Leader Coun Richard Wright said: “We remain fully committed to our intention to deliver a new cinema for the area. Currently there are complex legal discussions underway with a potential operator to bring forward a fresh proposal that sits within a broader vision of regeneration. I am optimistic that we are not too far away now from concluding what are called Heads of Terms and so it is essential to have the funds committed and put aside for as soon as they are needed.”
In the five years since the council outlined its previous proposals – put to an end by the Covid pandemic – the economic position of such a project has changed enormously said Coun Wright, but the council’s position in seeing it as a significant benefit to the town has not.
“The realisation of a cinema remains a key objective within both the Sleaford Masterplan and the council’s investment aspirations. Given the enthusiasm that is continually expressed for a cinema to be included within our regeneration vision, I am reassured that we continue to be doing the right thing by exploring opportunities to bring one to fruition,” he said.
Other high-level sums included in the 10-year-plan include investment of:
- £177m to provide new homes that meet the needs of residents and communities - £41m to build new council homes and £136m to further expand the housing offer through Lafford Homes.
- £53m for repairs, maintenance component replacements like bathrooms, kitchens and roofs in existing council homes and a further £19m for decarbonisation activity.
- £38m for further developments at Sleaford Moor Enterprise Park providing major opportunities for business growth and job creation.