Lichfield District Council is seeking approval for an additional £5.56 million investment in the former Debenhams redevelopment in the city centre.
The extra funding breaks down into two parts: £2.84 million to complete the project itself, and £2.72 million to enable the Council to buy full ownership of the finished development.
What the development will include
The leisure destination will feature an Everyman Cinema and hospitality businesses. Construction is well advanced and on track to finish later this year.
Why more money is needed
Additional costs have emerged during building work due to market conditions and the complexity of converting the former department store.
Financial benefits
If councillors approve full ownership, the Council will receive all rental income from the development. The authority says this will support its finances long-term while keeping benefits within the district.
Next steps
The Cabinet will consider the proposals on 13 July, with Full Council voting on 14 July.