Agenda item

Report of the Chief Grants Officer.

The Chief Grants Officer (CGO) introduced a progress report on social investment activity within the Corporation.

The Board was informed that recruitment had been slightly delayed for a suitably qualified person to act as a Social Investment Analyst on a consultancy basis, This consultant would work with both the Chamberlain’s Department and the City Bridge Trust. It was anticipated that the individual would be post by the next meeting of the Board in July.

Members also heard that officers were working to develop a ‘Transition Fund’, a new City Bridge Trust grants programme which aimed to encourage more charitable organisations to participate in the social investment market. The premise of the Transition Fund would be to offer non-repayable and repayable financing for new business pilots. The main idea behind the Transition Fund would be to help grant-dependant organisations move towards more sustainable models of finance. Full details regarding the Transition Fund would come to the Board’s next meeting. The governance model would need to be worked out by the Town Clerk’s Department as aspects of the Fund may involve joint decision-making by the City Bridge Trust Committee and the Social Investment Board.

RESOLVED – That the report be noted.