Braddan Commissioners have asked the government for permission to apply to borrow up to £3.4 million from a bank to complete their new leisure centre development.
The initial cost for the centre was to be £6.5 million, but the requirement of more funds to complete the project means it will cost £9.9 million overall.
The chair of the local authority, Andrew Jessopp, said: ‘We are looking to charge businesses in the area a special rate to cushion the increase in residential rates.
‘Subject to the government’s agreement, the rates could be increased by roughly 20%, but this is the worst-case scenario.’
The Roundhouse is set to officially open in November this year, and it will consist of a cafe, children’s play area, multi-use sports hall and gym along with a nursery, pharmacy and dental practice.
The complex was set to be completed in October, but due to the cost of materials the finishing date has been pushed back to November 17.
A spokesperson for Braddan Commissioners said: ‘As well as providing a range of new leisure, health and community facilities for all ages island-wide, the complex will create in the region of 25 local jobs.
‘Located at the Strang, adjacent to Palatine Health Centre and Noble’s Hospital, the Roundhouse will have good parking provision and excellent public transport links.
‘As well as being an ideal venue to meet friends and family, you can also take advantage of essential services and exercise. Its modern, comfortable facilities will also be available to hire for a range of functions and events.’
The leisure centre has been designed by local architects Kay Associates and constructed by Cedar Developments Limited.
Mr Jessopp added: ‘It has been several decades since a local authority undertook a scheme of this scale and, having been on site recently, it is truly wonderful to see it all coming together.
‘We have no doubt our modern leisure and community complex will have a huge positive impact on the outlook, health and wellbeing of island residents.
‘Since the outset, this has been very much a team effort involving local architects, contractors and craftsmen to match the aspirations of the local authority.
‘The scheme has created jobs in the construction industry, as well as at the completed complex itself, and when open will increase footfall to the area and give a boost to local businesses.’