Agenda item

(Jeremy Paul Mayhew)

25 September 2014

Prince’s Trust Strategic Grant

This paper proposes releasing an additional £1.05m per year from the Bridge House Estates surplus income for a period of 10 years (over and above the Investing in Londoners grants programmes budget, or their successor) to provide a long-term strategic grant to the Prince’s Trust Charity (£1m per year) with associated grant management costs to the City Bridge Trust (£50,000 per year). The purpose of the proposed strategic grant is to build upon the Prince’s Trust’s excellent work with some of London’s hardest to reach young people: it will provide the Prince’s Trust with a financial commitment that will allow it to increase its programmes targeted at Londoners, and part-finance one of its centres in Tower Hamlets. 

A printed and circulated report is now submitted for your consideration and we commend its recommendations to you.

25 September 2014

(B) Prince’s Trust Strategic Grant

This paper proposes releasing an additional £1.05m per year from the Bridge House Estates surplus income for a period of 10 years (over and above the Investing in Londoners grants programmes budget, or their successor) to provide a long-term strategic grant to the Prince’s Trust Charity (£1m per year) with associated grant management costs to the City Bridge Trust (£50,000 per year). The purpose of the proposed strategic grant is to build upon the Prince’s Trust’s excellent work with some of London’s hardest to reach young people: it will provide the Prince’s Trust with a financial commitment that will allow it to increase its programmes targeted at Londoners, and part-finance one of its centres in Tower Hamlets. 

A printed and circulated report is now submitted for your consideration and we commend its recommendations to you.

Following an introduction by the Chairman, he responded to a question from The Reverend William Campbell Taylor clarifying the scope of the grant and confirming it would cover activities across multiple London Boroughs. The Chairman of the Policy and Resources Committee also spoke in support of the proposals.

Read and agreed to.