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THE final cost of building Monmouth's new Monnow Bridge will reach nearly £3 million, councillors were told this week.
Members of Monmouthshire council's Cabinet were asked to look at a final figure for the project and agree to additional funding of £274,782, to bring the scheme to a financial close.
Capita Gwent Consultancy has been in negotiation with contractor Costain Ltd over the settlement of the final account for the scheme, which brings the total cost of the project to £2,892,792.
Officers at this weeks meeting encouraged Monmouthshire's new Conservative Cabinet to agree to the final outturn figure and additional funding to 'draw a line' under the Monnow Bridge project.
Cabinet members agreed to the funding proposal, but sent out a warning to contractors that the 'open cheque book' at Monmouthshire county council was now closed.
An investigation has been held into the massive overspend on the new Monnow Bridge, which jumped from an original budget of cost of £1.4 million to a cost of £2.6 million.
In a report presented to Cabinet, costs were incurred due to delays such as the nesting of sand martins on the site, the diversion of a gas main and a delay in the demolition of the old cattle market buildings.
Cllr Brian Hood asked if there were areas within the budget where officers could go back and negotiate with Capita Gwent Consultancy.
Cllr Chris Woodhouse added: "What we have here is a project which is overspent, but the directorate is not overspent.
"I think it should go to full council as a matter of transparency. One of the comments we have had this year is that not all councillors were aware of the situation.
"If it goes to full council it will draw a line under this and in the long term we need to look at how we manage projects. We must take advice on this."
Steve Greenslade, director of resources and customer services, advised councillors against debating the matter at full council and urged the Cabinet to approve the funding proposal.
He said: "It is a capital project and we are aware of two areas where it will be possible to make a recovery. But if we cannot make that recovery we will need extra funding and that is why we are coming to you to approve the extra funding."
Environment director Jeff Martin warned against opening up negotiations with the contractor.
He said: "The advice we have been given is this is a fair figure and we accept the figure and draw a line under this."
Cllr Andrew Crump said: "It is not a pretty picture which none of us a happy with and we will go from this meeting with the open cheque book at Monmouthshire county council closed - so contractors beware."
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