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To offer immediate financial support to Visit Cambridge and Beyond, comprising a three-month rental holiday worth £9,000, plus an initial sum of £43,000 to provide urgent support to VCB to enable payment of creditors and running costs. This is in order to avoid insolvency whilst a business plan can be developed.
This sum provides for 50% of VCB’s costs from April to the end of June 2020. Other VCB members have been contacted to request payment of the remaining 50% (£52,000), but the Council has budgetary provision to meet this if required.
The first payment is to be made as a grant, on condition that the VCB Board and Managing Director work with partners to develop a medium-term plan for consideration by the end of May 2020. This will allow for consultation of staff if necessary and implementation in July 2020, if appropriate.
Decision type: Non-key
Decision status: Recommendations Approved
Notice of proposed decision first published: 22/04/2020
Decision due: 2 Jul 2020 by Strategic Director (SH)
Contact: Suzanne Hemingway, Interim Assistant Director, Assets and Property Email: Suzanne.Hemingway@cambridge.gov.uk.
Additional Information: This item will automatically appear on the agenda for scrutiny.
Background Information: Officer decision.
