Grants and Sponsorship - City Recital Hall Limited - Operational Funding 2020-2025
Decision Maker: Council
Decision status: Recommendations Determined
Decisions:
2019/031647
It is resolved that:
(A)
Council approve a cash grant to City Recital
Hall Limited of $325,000 (excluding GST) for 2019/20 in addition to the previously
approved grant of $375,000, to be sourced from the 2019/20 General Contingency
Budget, $700,000 (excluding GST) per financial year for the financial years
2020/21, 2021/22, 2022/23, 2023/24 and 2024/25 for the purpose of assisting
with the operational costs incurred by City Recital Hall Limited in operating
the City Recital Hall venue;
(B)
Council note the base building funding, a total
of $6.3 million over six years, approved by Council in June as part of the
City's annual Capital Expenditure Bid;
(C)
authority be delegated to the Chief Executive
Officer to negotiate, execute and administer a grant agreement with City
Recital Hall Limited in relation to the grant as detailed in clause (A) above;
(D)
Council approve the grant of a new sublease to
City Recital Hall Limited for City Recital Hall, 1 Angel Place, Sydney with no
annual rent payments for a term of five
years with a commencement date of 1 July 2020; and
authority be delegated to the Chief Executive Officer to
negotiate, execute and administer the sublease with City Recital Hall Limited
in relation to the sublease as detailed in clause (C) above.
Report author: Erin Cashman
Publication date: 19/08/2019
Date of decision: 19/08/2019
Decided at meeting: 19/08/2019 - Council
Accompanying Documents: