Business case information – proposal to seek Public Works Loan to enable the resurfacing of the Hine Town Lane Recreation ground Play area
It is clear that re-mulching the existing ‘cushion-fall’ material with like-for-like is rather futile in terms of providing a long-term solution to the problem of degradation of the existing surface.; the last replacement of cushion-fall has only lasted some 18 months. We could replace the surface with a wood chip material which might be more durable but which will cost some £2,000 more. A contractor has suggested that we might like to consider more durable options such as ‘Tiger mulch’, a mixture of recycled shredded rubber and a specially formulated high- performance polyurethane binder.;’ and has a lifespan of 10-15 years. A number of suppliers provide Tiger Mulch and quotes have been sought from 3 contractors (see below)
The Council could seek Public Works Loan to finance the cost of a complete overhaul – circa £25k over some 10 years. These are loans available to local authorities which are secured on the basis of council tax receipts and which would probably be viable – repayments on a twice-yearly fixed interest basis of say £25k over 10 years would amount to circa £2,700p.a. at 1.90% (interest rates are actually not agreed until the date the loan is granted). The cost of this would be basically covered by the £2500 per year transfer to the Rec reserve account, though we would probably need to allocate an additional £1000 to the reserve account each year to allow for contingencies.
The Chairman & I recently inspected an installation at Colehill, Wimborne. We were greatly impressed by the resilience of this surface with is very well used.
Supplier - quotes Ex VAT - Notes
A - £ 24,835.00 - Does not include removal of exisiting loosefill
B - £ 24,758.00 - To include removal & installation
C - £ 20,865.00 - Does not include removal of existing loosefill
7th June 2019