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EICC extension to cost an additional £200k a year

posted 30 Jan 2010, 14:01 by David Rintoul   [ updated 30 Jan 2010, 14:55 ]

The taxpayer is set to face an extra £200,000-a-year bill for the extension of Edinburgh's flagship conference centre.

City council chiefs have confirmed that a potential funding gap for the much-delayed extension of the Edinburgh International Conference Centre means that the council is set to have to put up money itself from next year.

The EICC expansion – which has been being planned for nearly a decade – will see a major underground extension, as well as a new office development above.

Council officials say the annual subsidy – which would continue indefinitely – is necessary because the economic downturn will reduce rental and sale rates achieved when the development's offices are completed.

It is hoped the agreed subsidy will ensure the business case for the development can move forward.

Continued...