Report of the Chief Grants Officer and Director of the City Bridge Trust.
Members received a report of the Chief Grants Officer and Director of City Bridge Trust relative to the City of London Community Infrastructure Levy (CIL) Launch of the Neighbourhood Fund. The programme launched three weeks prior on 1 September 2020. Although the launch had been delayed by six months as a consequence of the COVID-19 health pandemic, the time was used to expand reach and awareness. At the time of reporting, one application had been completed, and 10-12 more were anticipated. The current financial value of the Neighbouhood Fund is £5.6M, and as this money was derived from developments in the City, it was confirmed that this money is required to be spent within the boundaries of the City of London, for the benefit of City Communities. It was also noted that the arrangements would be reviewed in one year.
RESOLVED, that – the report be received and its contents noted.