Decision details

To agree a process for payments to be made to the Coliseum Theatre via the Council, to support the Theatre in the delivery of their fundraising campaign.

RESOLVED - That:
1.In advance of the Arts Council releasing the first tranche of its £7m grant towards the cost of the new Coliseum Theatre, the Council pays the Theatre’s eligible costs incurred in relation to its fund raising campaign;
2.Following the release of Arts Council grant payments, the Council continues to pay the costs of the Coliseum Theatre’s fund raising campaign on a quarterly basis up to an agreed ceiling, and subsequently claims back these costs, along with those paid in advance to the Theatre, from the Arts Council.

Option 1 - Do not pay the Coliseum Theatre’s fundraising costs in advance of Arts Council grant funding being released.
Option 2 - Pay the Coliseum Theatre’s fundraising costs in advance of Arts Council grant funding being released.

Option 1 - Such a course of action will place a significant cash flow burden on theatre, and delay the positive progress which has been made to date in reaching the fundraising target.

The following Council departments were consulted:
- Legal
- Finance
- Strategic Sourcing (Procurement)