The Divisional Director, Finance, Procurement & Audit informed the Sub Committee the grant requested would contribute toward the restoration of the premises together with Heritage Lottery funding and a repayable loan.

The written comments of GSSC were noted and the Divisional Director outlined how the Council would mitigate risks around the loan by means of controls and ongoing review.  The Sub Committee noted the intended project outcomes and benefits.

Sub Committee Members and Councillor Golds indicated that they supported the proposals because of benefits that the premises could provide and its heritage value.

DECISION

That grant funding of £250k as a contribution to Oxford House in support of their refurbishment project be approved.

The Divisional Director, Finance, Procurement & Audit informed the Sub Committee the grant together with Heritage Lottery funding and a repayable loan would fund the restoration of the premises.

The written comments of GSSC were noted and the Divisional Director outlined how the Council would mitigate risks around the loan using controls and ongoing review.  The Sub Committee noted the intended outcomes and benefits that the project would achieve.

Sub Committee Members and Councillor Golds indicated that they supported the proposals because of benefits that the premises could provide to the community and its heritage value.

RESOLVED

That grant funding of £250,000 as a contribution to Oxford House in support of their refurbishment project be approved.

Zena Cooke, Corporate Director for Resources explained the Heritage Lottery Fund had approved funding for the Oxford House project and the Council was to match fund £250K of Section 106 monies for the project. She referred Members to point 4.1 of the report which gave a breakdown of the total cost of the project.

Members of the Sub-Committee made the following comments and asked:

·         Will the section 106 monies be in addition to the cost outlined at 4.1?

·         What contingency plans were in place if the project was not delivered to budget and time?

·         Which section 106 pot is the money coming from? Would be helpful to see the IDB report.

The Grants Scrutiny Sub-Committee NOTED the report and AGREED to endorse the recommendations contained within the report and asked their comments be reported to the Grants Determination Sub-Committee.