Issue - meetings

Kent Savers Credit Union

Meeting: 08/10/2014 - Communities and Health Advisory Board (Item 24)

24 Kent Savers Credit Union pdf icon PDF 41 KB

Decision:

(Report of Management Team)

 

The report explained the background to the deferral of consideration of a request by Kent Savers for financial support of £10,000 to enable further investigation of a number of issues.  An update was given on how residents of Tonbridge and Malling would benefit and the means by which Kent Savers would work with local churches.  The legal position in respect of the State Aid Regulations was also clarified and it was confirmed that while the de minimis exemption would apply to an unconditional grant, there would be risk attached to providing a loan.

 

A report back in 6 – 12 months was requested on activity in Tonbridge and Malling following the award of grant.

 

Following consideration by the Communities and Health Advisory Board, the Cabinet Member for Communities, Health and Community Safety resolved that the request for financial support of £10,000 to Kent Savers be approved in the form of an unconditional grant and be funded from the balance on the Community Enhancement Fund.

 

Minutes:

Decision Notice D140117MEM

 

The report of the Management Team explained the background to the deferral of consideration of a request by Kent Savers for financial support of £10,000 to enable further investigation of a number of issues.  An update was given on how residents of Tonbridge and Malling would benefit and the means by which Kent Savers would work with local churches.  The legal position in respect of the State Aid Regulations was also clarified and it was confirmed that while the de minimis exemption would apply to an unconditional grant, there would be risk attached to providing a loan.

 

A report back in 6 – 12 months was requested on activity in Tonbridge and Malling following the award of grant.

 

RECOMMENDED:  That the request for financial support of £10,000 to Kent Savers be approved in the form of an unconditional grantand be funded from the balance on the Community Enhancement Fund.