It is resolved that:
(A) Council
approve the recommendation of up to $100,000 in financial assistance per year
for two years (2024/25 and 2025/26) to Australian Fashion Council Ltd for the
final two years of the project Australian Fashion Week 2024-2026,
(B) the
Chief Executive Officer be requested to meet with the Australian Fashion
Council Ltd to monitor fundraising outcomes and determine if additional funding
is needed, and if required, bring a report to Council for additional funding in
2025;
(C) Council
note that the grant agreement will not be signed and payment of the funding
will not occur until the City is satisfied that the following pre-conditions
are met:
(i)
Australian Fashion Council Ltd provides and the
City approves the detailed project plan for the 2025 and 2026 Australian
Fashion Week events;
(ii)
Australian Fashion Council Ltd provides evidence
confirming it has secured other income and funding to deliver the 2025 and 2026
Australian Fashion Week events; and
(iii) the
agreement with International Management Group of America Pty Ltd has been
formally terminated and funds paid to International Management Group of America
Pty Ltd for the 2025 event are repaid to the City;
(D) Council
note that all grant amounts are exclusive of GST;
(E) authority
be delegated to the Chief Executive Officer to negotiate, execute and
administer the agreement with Australian Fashion Council Ltd under terms
consistent with this resolution and the Grants and Sponsorship Policy;
(F) Council
note that it will be advised by CEO Update when the grant agreement is signed
by both parties;
(G) Council
note that if the grant agreement is not signed by both parties by 31 March
2025, the Council approval to provide the funding will be automatically
rescinded; and
(H) authority
be delegated to the Chief Executive Officer to correct minor errors to the
matters set out in this report, noting that the identity of the recipient will
not change, and a CEO Update will be provided to Council advising of any
changes made in accordance with this resolution.
The motion, as varied by consent, was carried
unanimously.
S117676