Agenda item

Report of the Director Economic Development.

The Committee considered a report of the Director of Economic Development concerning the City Corporation’s future membership of TheCityUK.

RESOLVED – That:-

1.          the City Corporation continues to be a member TheCityUK for another two years and that this be in accordance with the terms of the new agreement (set out in the appendix to the report);

2.          approval be given to the allocation of the funding to meet the terms of the renewed membership agreement and the rental contribution for the financial years 2016/17 – 2018/19 as follows:-

·             £400,000 in 2017/18 and in 2018/19 to be allocated from Your Committee’s base budget; and

·             £25,000 in 2016/17 and £100,000 per annum in 2017/18 and in 2018/19 in respect of the City Corporation’s ring fenced contribution towards TheCityUK’s rental costs. This cost would be met from the Policy Initiatives Fund, categorised under Promoting the City section of the Fund and charged to City’s Cash.