Riverside plan is labelled 'high risk'

8:19am Tuesday 13th May 2008

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Campaigners against the Twickenham Riverside development have expressed concern after the borough's financial boss labelled it "high risk".

In a memo to opposition deputy leader Councillor Geoffrey Samuel, Mark Maidment, director of finance and corporate confirmed the Twickenham Riverside project, specifically "the element of the project that involves the Environment Trust running the river centre at nil subsidy from the council is, at this stage, considered high risk".

However, Mr Maidment said meetings and representations from officers had made clear this was to be expected at this early stage and "should not stop the further development of this scheme".

He listed the actions being taken to improve plans before appointing a developer, including work on assumptions over catering income, staffing, volunteers and external grant funding. He also noted the council had written into the draft plan that it is under no obligation to meet any shortfall in the Environment Trust's plans, and that it could assume control of the building if there was a funding shortfall.

Coun Samuel demanded information on what the council means by promising it will take over the River Centre building. He said: "If it goes pear-shaped and the council takes it over what will the building become? Council offices?"

Council leader Coun Serge Lourie, said: "Naturally, we have to have contingency plans for the possibility of the River Centre failing and it is no secret that we think improvements can be made, but we are confident the Environment Trust will present a robust business plan."

Coun Lourie said it was "quite normal to be in this sort of situation at this stage" but added he expected an amended business plan in the next three months and is meeting with the Environment Trust in the next couple of weeks to discuss the project.