Financially sustainable survival plan needed for Bridport LSi
By Lottie Welch
4th Jan 2021 | Local News
A 'survival plan' is currently being discussed for Bridport Literary and Scientific Institute (LSi), and the public will have a role in deciding its future.
The building on East Street reopened its doors in 2018 having been rescued from near dereliction by Bridport Area Development Trust's (BADT) 10-year restoration project.
However, the LSi - built in 1835 - is in transition as the trust investigates options for a financially sustainable survival plan.
Changing commercial conditions were already putting pressure on the LSi as costs exceeded income from the hiring of the building, events and the café. The coronavirus pandemic has given new urgency to finding a way forward.
Vanessa White, interim chairman of the trust, said: "Two proposals have been submitted which, despite the pandemic difficulties, provide an exciting opportunity for BADT to re-establish a strong foundation for the LSi and secure its role as a valuable asset making an important contribution to the development of Bridport.
"People feel very strongly about what the LSi should offer, and we value their opinions.
"However, the trustees are also acutely aware that the expectations of funding bodies and other stakeholders - that the building benefits the wider community - must be balanced with financial and management viability."
The trust says it will include the community in the decision-making process. Both bids, which combine commercial, social and cultural elements, will be evaluated by BADT in January, with a public consultation following in March. A final decision is expected in May.
Phyllida Culpin, chairman of the LSi management committee, said: "Trustees and volunteers have been working really hard to get the building safe and ready for reopening as soon as possible when the general situation allows.
"Our emphasis has been on health and safety, but we have also prioritised reducing costs and improving efficiency - and that means we have saved money which will help to ensure a financially secure and sustainable future for this wonderful community asset."
The building has been closed to the public since the first coronavirus lockdown in March, but the current commercial tenant has since resumed use of the first floor and mezzanine.
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