TAVISTOCK'S debt-burdened Wharf arts centre has been given a new lease of life.

In what it described as an 'exceptional' move, West Devon Borough Council this week awarded the centre a financial package worth almost £150,000.

The cash will wipe out the debt inherited from the Wharf's previous administration and clears the way for the centre to apply for vital Lottery funding.

The centre is currently run by CAM (The Wharf) Ltd with substantial input from volunteers.

The company, which has been running the Wharf for five years, has had to meet all costs without any of the financial support many arts centres receive in order to survive.

And £200,000 worth of debts stretching back several years meant directors at the Wharf were saddled with annual loan repayments of more than £15,000, in addition to normal running costs.

Margaret Hurdwell, Wharf managing director, said she was delighted at the news of the borough's award.

'This is the step forward that we really need. We can now operate from a level playing field, we've been given a new lease of life,' she said.

Mrs Hurdwell said: 'The criteria for grant bids is very stringent and needs the strong support of the local authority. That support is there and the future looks very exciting.'

Lesley Halton, borough treasurer, has already held talks with South West Arts to discuss possible financial support for the Wharf.

And other council officers are working with the arts centre's directors to produce a 'robust' bid for the new Regional Arts Lottery Programme.

Cllr Peter Hill, chairman of the council's influential policy committee, said: 'The financial package has been awarded in exceptional circumstances.

'The Wharf is a unique arts and entertainments centre in West Devon and in fact the only one of its kind in the borough.

'So many people use and value it — ticket sales bear that out. We are pleased to support it.'

The 18th century warehouse next to Tavistock Canal was converted into the Wharf arts complex and opened in February 1995, a partnership project involving the borough, the European Union and the Rural Development Commission.

Six months later the arts centre closed temporarily before re-opening again in February 1996 under the control of CAM (Community Arts Management).

The Wharf now has annual ticket sales of around 50,000.