Issue - decisions

It is resolved that:

(A)      Council approve a cash grant of $1,000,000 per year for 5 years from 2025/26 to 2029/30 to City Recital Hall Limited for ongoing operational funding;

(B)      Council note that the grant amount is exclusive of GST;

(C)      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 5 years with a commencement date of 1 July 2025;

(D)      Council agree to consider in the future changing the name of the City Recital Hall and City Recital Hall Limited seeking broader sponsorship and philanthropy to support its ongoing feasibility, which may incorporate sponsored naming rights in consultation with Council, and which will be included in the terms of the sublease;

(E)      authority be delegated to the Chief Executive Officer to negotiate, execute and administer the agreement with City Recital Hall Limited under terms consistent with this resolution and the Grants and Sponsorship Policy; and

(F)      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 (C) and (D) above.

Carried unanimously.

S117676