Decision details

Resolved:

That Cabinet:

1.     Approves proceeding with the establishment of a Social Impact Fund, using source funding of no less than £1,000,000 from the Contain Outbreak Management Fund (COMF) and authorises the Strategic Director for Resources, in consultation with the Portfolio Holder Finance and Property, to increase the value of the fund drawn from the COMF if the appropriate conditions are met;

2.     Approves the capital element of the fund to be added to the Capital Programme and authorises the Strategic Director for Resources, in consultation with the Portfolio Holder Finance and Property, to adjust the value of scheme in the capital programme depending on the balance of grant determinations approved;

3.     Supports the operation of the fund to be delivered by a third party and authorises the Strategic Director for Resources to take all steps as he considers necessary to establish the fund; and

4.     Notes the feedback from the Communities Overview and Scrutiny Committee as set out at paragraph 4.15 of the report.