Decision Maker: Cabinet Member for Communities and Neighbourhoods
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
1. White City CIC has changed its status to a
CIO. Authority is granted to the Head of Communities in
consultation with the Council Solicitor and Chief Finance Officer
to agree Deeds of Novation to cover previous grants for this
2. As a result of project changes, the impact of Covid 19 and the requirement to progress fundraising, authority is granted to the Head of Communities in consultation with the Council Solicitor and Chief Finance Officer to agree a Deed of Variation in respect of the 2018 grant agreement. Notably this increases the grant from £50k to £69,977.
3. Authority is granted to the Head of Communities to agree a new Deed of Grant for the remaining funds (£92,023) which removes the requirement for £50k to be withheld until completion.
The decision will allow the White City CIO to draw down the funds necessary to ensure fundraising for the project can commence and ensure a planning application can be submitted for the project. It supports the Council’s Asset Based Community Development approach and has been agreed win consultation with ward councillors.
Continue as planned using previous agreements- this would reduce the ability of the CIO to progress the project any further.
Publication date: 07/10/2020
Date of decision: 01/10/2020
Effective from: 15/10/2020