Agenda item

Your Policy and Resources Committee recently approved, in principle, the establishment of a £20 million Social Investment Fund (SIF) from within the Bridge House Estates Fund. Events in the social investment arena are moving fast and the time appeared to be right for the City Corporation to establish such a Fund.

Whilst the progression of the initiative is subject to settling the management arrangements and any other necessary approvals, it presented a significant opportunity to maximise the social impact of the City Corporation’s investments by making the capital work harder to achieve a social, as well as a financial, return. It is also a demonstration of our commitment to the social investment agenda.

A printed and circulated report thereon has therefore been submitted for your information.

The Chairman undertook to look into the structure of the fund to ensure that it would allow the best opportunities for funding

Your Policy and Resources Committee recently approved, in principle, the establishment of a £20 million Social Investment Fund (SIF) from within the Bridge House Estates Fund. Events in the social investment arena are moving fast and the time appeared to be right for the City Corporation to establish such a Fund.

Whilst the progression of the initiative is subject to settling the management arrangements and any other necessary approvals, it presented a significant opportunity to maximise the social impact of the City Corporation’s investments by making the capital work harder to achieve a social, as well as a financial, return. It is also a demonstration of our commitment to the social investment agenda.

A printed and circulated report thereon has therefore been submitted for your information.

The Chairman undertook to look into the structure of the fund to ensure that it would allow the best opportunities for funding

Received.