Issue - meetings

Capital investment in community assets

Meeting: 30/10/2023 - Cabinet (Item 5)

5 Capital investment in community assets pdf icon PDF 147 KB

Additional documents:

Minutes:

Cllr Hug introduced the item and invited Ezra Wallace, Director of Policy and Projects, to speak to the report.

 

Ezra Wallace noted that voluntary and community sector organisations (VCSOs) play an essential part in contributing to our communities, and the Fairer Westminster strategy is committed to creating an equitable city in which community and voluntary sector organisations are empowered to succeed.

 

Ezra Wallace highlighted the four investment and acquisition principles which the policy and guidance is based on which are strategic fit with the Fairer Westminster Strategy; additionality – capital investments should lead to positive and lasting change in the community; value for money; and affordability.

 

Ezra Wallace noted that the policy and supplementary guidance will allow the support the growth and future resilience of VCSOs.

 

Cllr Butler-Thalassis noted that it was a good policy need quality premises, and this strategy will help them achieve that.

 

Cllr Boothroyd agreed that as ward councillors and various activity in community, VCS and various groups are essential in providing services and it is reasonable that the council should want to support that so they can continue to deliver.

 

Cllr Boothroyd noted that there is a lot of existing demand, and the policy is needed to ensure the Council can step in – but only when it’s right that it should do so e.g., have the budget.

 

Cllr Barraclough welcomed the policy and noted that the Council frequently invests in community assets. The new policy framework will allow the Council to respond more quickly to requests from VCS organisations.

 

Cllr Hug concluded that it was good to have finalised and the Council can play an active role in communities to shape the environment.

 

RESOLVED: Cabinet approved the following recommendations:

1.     Approve the adoption of the Discretionary Capital Funding Policy

2.     Approve the adoption of the Property Investment Strategy Supplementary Guidance

3.     Delegate authority to make minor future administrative and drafting amendments to both policies to the Executive Director of Innovation and Change in consultation with the Executive Director of Finance and Resources.