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Mareel Funding Delay

Part of the funding package for 'Mareel', Shetland's proposed new cinema and music venue, has been temporarily delayed, possibly for up to 6 months, due to the Scottish Arts Council Capital Lottery Division requesting further information to support Shetland Arts 'Phase 2' funding application for the venue.

Shetland Arts had initially been allocated a provisional amount of £2.2m from the Capital Lottery Fund following the Phase 1 application process, submitted in advance of the organisation producing much more detailed plans for the facility via the final Stage 2 procdeure. The Phase 2 application was lodged earlier this year following a protracted consultation, design and application process.

A funding commitment of £5m remains in place from Shetland Islands Council toward the project, with additional funding from Shetland Development Trust and HIE Shetland currently under consideraton. However additional funding to support the existing financial shorfall of around £600k contiunes to be sought.

For the full story courtesy of Shetland News - Click Here

For the full story courtesy of Shetland Today - Click Here

Last Updated ( Friday, 14 September 2007 )
 
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