By JULIA RAVENSCROFT

COUNCIL bosses may have to fork out an extra £600,000 for the ill-fated arts centre to pay for security and cover the delay in its construction.

The extra funding is required because its main contractor, Horrocks Construction, went into receivership in November and a new builder has not yet been found.

The council is shelling out £3,000 a week on security at the site which includes the hire of a fence and a 24-hour security guard.

A report from the director of financial services and IT, Peter Carey, to the council's corporate and finance panel stated that the Arts Council, which has already donated £2.4 million, will not provide any more funds.

The additional cost, which is estimated to be £600,000, will cover re-tendering the contract and the delay in the centre's construction.

Plans for Palmyra Square, which will provide pedestrian access to the Arts Centre, will also be on hold until council leaders can assess the present situation.

Mr Carey said the £600,000 will come out of the £20 million capital resources fund, which includes annual government allocations and money left over from the sale of 3C Waste.

He said: "We need to take stock of things when we know what the proper figures are for re-tendering. £600,000 is only a broad estimate of the potential cost.

"We are fairly relaxed about the situation."

The contractors had completed around one third of the work on the centre at a cost of £1.5 million before they went into liquidation.

New tenders for the works are expected to be received at the end of this month.