Agenda item

APPROVED A grant of £200,000 over two years towards the salary of a part-time project director, together with social sector consultancy costs, low bono legal fees, accountancy services for the project and the implementation of financial systems. In the first year, funding in Quarter 2 to be subject to detailed financial modelling for The Hive being in place and in Quarter 3 subject to the parameters for a social investment request also being in place.

The Committee noted that the total amount of funding approved was the largest amount ever approved by the City Bridge Trust Committee in a single meeting.