Agenda item

Report of the Managing Director of BHE

The Committee considered a report of the Managing Director of BHE recommending a programme of additional support to help current grantees manage cost pressures from rising demand and high inflation. The Managing Director of BHE introduced the report and presented the proposals to the Committee, as well as the wider context and background to the proposal.

In response to a question from a Member, the Managing Director of BHE advised that inflationary pressures had been taken into account by funding officers prior to these proposals, with a 2% uplift included in many grant applications. The Managing Director of BHE also advised that the proposals had been developed following bilateral conversations with other funders and information provided by central government. A Member added that collaboration with other funders would be beneficial, but distributing funding should be a priority.

The Chair commented that this was a positive example of BHE showing leadership, and that the structure and criteria was appropriate, before drawing the Committee’s attention to the recommendations.

RESOLVED – That the Grants Committee of the Bridge House Estates Board, in the discharge of functions for the City Corporation as Trustee of Bridge House Estates (charity no. 1035628) and solely in the charity’s best interests:

i)              Agree a programme of additional support (with an estimated total value of £3.5m) to selected grant-holders in the form of one-off unrestricted grants, calculated based on 10% of the funding due over the coming 12 months to help them counter general inflationary pressures and increased demand. Funding to be reserved for:

a. Awards made under the Trust’s open programmes

b. Current grant-holders whose awards were made on or before 1st May 2022

c. Those identified by Funding Managers

Awards to be pro-rated for those with less than 12 months remaining on their funding agreements with CBT.

ii)             The total value of the programme to be agreed by the Chair and Deputy Chair under delegated authority;

iii)           Individual awards to be approved by the Managing Director of BHE under delegated authority;

iv)           Authorise officers to work with fuel and food poverty umbrella organisations as well as community credit providers to present proposals to the Grants Committee to support Londoners with the impacts of high inflation; and

v)            Authorise officers to work with other grant-makers in the sector to develop a pan-funder response to high inflation.