News / Mareel’s future hangs in the balance
TALKS to secure the future of Shetland’s new £13.5 million music and cinema venue Mareel are set to continue on Tuesday after councillors debated the issue behind closed doors for six hours on Monday.
In December the local authority made available a £600,000 “bridging facility” to help complete the project and protect its investment of £6.1 million in the venue.
At the time the council commissioned a forensic examination (due diligence) of the project, carried out by accountants PriceWaterhouseCoopers and Brodie’s Solicitors.
Mareel’s operator Shetland Arts are at loggerheads with lead contractor DITT over delivering the venue 18 months late and £1.5 million over budget.
Following Monday’s marathon meeting a council spokeswoman said a plan forward had now been agreed and would be discussed with Shetland Arts on Tuesday.
No details of what the plan entails were disclosed on Monday, but it is clear that the council needs to be doing all it can to protect its millions of pounds already invested in Mareel.
There is public anger that more public cash may have to be injected into Mareel in the face of huge council cuts to jobs and services.
A statement issued late on Monday said: “Shetland Islands Council today agreed a plan to secure the future of the Mareel building as a centre for education, culture and the arts.
“Council officials will meet Shetland Arts Development Agency tomorrow (Tuesday) to discuss the proposals.
“Because we have to discuss commercially sensitive matters it’s not possible for the council to say anything more now.”
Mareel’s other external funders have all in principle agreed to pay extra to complete the project.
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