Agenda item

Joint report of the Chamberlain and the Chief Grants Officer.

NB: This report will have been considered by the Resource Allocation Sub-Committee and is due to be considered by the Finance Committee.

The Committee considered a joint report of the Chief Grants Officer and the Chamberlain proposing the creation of a Bridge House Estates (BHE) Strategic Review Fund totalling up to £1m, to support wider impacts of the implementation of Bridging Divides.

Reference was made to possibility of high costs of governance being reported within the BHE Annual Report as a result of the Fund.

It was suggested that the Chairman of the Investment Committee should also be included in the consultation process for the approval of bids from the new Fund. The Committee supported the suggestion.

RESOLVED – That the creation of a BHE Strategic Review Fund, totalling up to £1m be supported and that the governance arrangements for the approval of bids against the above Fund be delegated to the Town Clerk in consultation with the Chairmen of Policy & Resources and Finance Committees, the City Bridge Trust, the Chief Grants Officer and Deputy Chamberlain be agreed, subject to the inclusion of the Chairman of the Investment Committee in the consultation process.