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ELDC: Louth leisure centre 'on budget'
By Pete Hayman
East Lindsey District Council (ELDC) has announced that the construction of a new leisure centre in Louth has come in "on budget" following the payment of an insurance bond.
The council has received £300,000 after taking out a bond ahead of the work to protect itself against any financial risk in the event of the contractor being unable to complete the work. Initially taken out against Linpave, the bond was passed onto parent group UCS Civils after the contractor went into administration.
However, UCS Civils later went into administration eight weeks ahead of the completion of the contract, which saw ELDC incur an additional £300,000 to finish the scheme. Lincoln-based Gelders Group was subsequently appointed to deliver the final stages of the Meridian Leisure Centre, which opened in early 2010.
East Lindsey District Council (ELDC) has announced that the construction of a new leisure centre in Louth has come in "on budget" following the payment of an insurance bond.
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