Decision details

RULE 15 Loan Request from Bath Festivals

Decision Maker: Cabinet

Decision status: Approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

Bath Festivals has approached the Council for a loan of £75,000 to enable them to continue to implement their new business plan and continue to operate.

Decision:

RESOLVED (unanimously) that the Cabinet agreed to:

 

2.1  Approve a conditional once-off grant of £75,000 to Bath Festivals from the Revenue Budget Contingency to ensure that the Council can assist with improving the community reach and accessibility for residents of the Bath Festivals Programme, as well as the profitability of the programme.

2.2  The conditions to be agreed by the Chief Executive, in consultation with the Leader of the Council.

2.3  Receive an interim progress report from the Cabinet Member for Community Services by November 2019 to review the achievement of objectives set by the Council as a condition of the grant.

Reasons for the decision:

The Council has received a loan request from Bath Festivals to enable the organisation to continue to operate. The report reflects the response to that request.

 

Council Constitution Urgency Rule 15 has been used for this report due to the urgency of decision to support Bath Festivals as closure would be disadvantageous to residents across the district.

Alternative options considered:

The Council could provide the loan of £75,000 but would need to consider whether it would be prudent and or legal to do so. The Council could do nothing as there is no current policy to give either loans or grants of this kind. Bath Festivals have been clear that they are highly unlikely to continue without this support while their new business plan is put in place, which would mean the cessation of festival activities.

Report author: Donna Parham

Publication date: 10/07/2019

Date of decision: 10/07/2019

Decided at meeting: 10/07/2019 - Cabinet

Accompanying Documents: