Issue - meetings

To receive and consider the attached report of the North East Area Manager.

Time – 15 Mins (Executive Function)

The North East Area Manager presented a report which provided the Area Committee with an update regarding the funding of the Feel Good Factor and the lease of 53 Louis Street, Chapeltown.

The Area Committee was requested to act as a guarantor for the Feel Good Factor to underwrite the sum of  £49,000 from Big Lottery Funds.  The funding was for improvements at 53 Louis Street.

It was reported that the risk of underwriting the sum was negligible due to the following factors:

• The sum of £49,000 would reduce over 10 years on a pro-rata basis.
• If the Feel Good Factor project folded, Well-Being funds would not be used to pay back the lottery grant if the new tenants of the premises were a voluntary organisation which offered similar facilities to the local community.
• The premises could be disposed of which would generate sufficient capital receipts to underwrite the sum without risking capital funds.

It was reported that it was likely there would be other groups willing to use the premises if the Feel Good Factor project folded.

RESOLVED – That the Area Committee demonstrates its on-going commitment to the development of the Feel Good Factor and underwrites the sum of £49,000.