Decision details

RESOLVED:

Decisions of the Cabinet

1.  That a grant funding payment of £62,500 to New Aylesbury Trust Ltd. “Creation Trust” on the basis of Creation Trust’s Business Plan for 2011/12 be approved.

2.  That grant funding of up to a maximum of £937,500 be paid to the Creation Trust in quarterly tranches of £62,500 subject to the terms of a 4 year funding agreement signed in accordance with the principles set out in paragraph 19 of the report.

Decision of the Leader of the Council

3.  That the responsibility for agreeing a 4 year funding agreement between the council and Creation Trust be delegated to the cabinet member for finance, resources and community safety, within the principles set out in paragraph 19 of the report.