315. An important part of the revised proposal made by WCT was the provision of information inrelation to its proposed operation of the facility. This information relating to proposals forthe general operation of the building, staff training, marketing, building maintenance andlegal compliance has been reviewed and is considered to be sufficient for the purposes ofoperating the pool.16. A summary of the financial elements of WCT’s proposal is shown in Appendix 2. Thisidentifies that Waterside Community Trust requires continued public sector subsidy in thesum of £230,835 over the three years of its plan. Its expectation is that this will beprovided by (as a minimum) Ryde Town Council (£77,018) and the Isle of Wight Council(£153,818).17. WCT assumes that this Council’s contribution will be made up by earned income for whichit will take responsibility (£76,800 over 3 years) plus a cash grant of £77,018 (average£25,673 per annum) over the three-year period of the business plan. The earned incomewill derive from the Trust’s management and maintenance of the boats on Ryde canoelake and also the canoe lake café. Together these facilities currently provide an annual netincome to the Council of £25,600.18. It is not clear whether WCT would require further funding from the Council beyond the endof its three-year business plan. If however, the Trust is not able to develop new incomestreams or reduce its operating costs to replace the annual average cash grant (£25,673)payments to be made by the Isle of Wight Council in accordance with WCT’s proposal,then it will require further funding; or to reduce the opening times and/or close the facilityaltogether.19. WCT proposes that it should acquire from the Council the land adjacent and to the west ofthe pool along with the pool itself as shown in the site plan in Appendix 3. It is WCT’sintention to develop this area and create a surplus of funds that it would be able to reinvestin securing the future of Waterside Pool.20. WCT has identified the replacement of a boiler, a pool filter and the pool cover as essentialto the successful delivery of its proposal and is seeking the Council’s further support inundertaking these works prior to the transfer of the facility to WCT. The estimated cost ofthese works is £20,000.21. The Council’s decision in seeking proposals for the acquisition of the pool was that it theacquirer must continue to provide for community swimming opportunities but at nil longerterm cost to the Council. The proposals made by WCT require the Council to fund one offcapital works costing some £20,000, to forgo an annual net income of £26,500 and also toprovide a revenue grant of, on average £25,673 per annum in the three years following theTrust’s acquisition of the building. Notwithstanding the proposed total revenue investmentby the Isle of Wight Council of some £153,818 over this three year period, there is noguarantee that WCT will not seek further funding from the Council in future years.22. It must therefore be concluded that the current proposal made by WCT does not meet theCouncil’s agreed intentions for Waterside Pool and is therefore unable to be recommendedfor acceptance.
An Alternative Model for Supporting Waterside Community Trust