Issue - meetings

Inspiration Centre

 

 

Meeting: 11/03/2014 - Cabinet (Item 6)

6 The Strood Academy - Consent to Variation of Deed of Gift pdf icon PDF 28 KB

Minutes:

Background:

 

This report provided details of a proposal to consent to vary a Deed of Gift and Declaration of Trust dated 17 August 2009 made between the then Secretary of State for Children Schools and Families, Strood Academy, and Medway Council regarding the use of the sum donated by the Council to the Academy in accordance with the Deed of Gift and Declaration of Trust.

 

It was noted that when the Academy was set up and in line with guidance from the Department for Education, the Council paid £500,000 to the Trust to advance education in Medway on the basis set out in paragraph 2.2 of the report. Subsequently, the Council had agreed for the Strood Academy to acquire the Inspiration Centre and the report stated that the Strood Academy Trust had asked the Council to consent to the restrictions on the use of the £500,000 being lifted by the Council to help fund the purchase of the Inspiration Centre.

 

Decision number:

Decision:

55/2014

The Cabinet agreed to delegate authority to the Assistant Director of Legal and Corporate Services, in consultation with the Portfolio Holder for Finance, to take all necessary steps to enable the purchase of the Inspiration Centre to proceed including but not limited to writing a suitable letter to the Charity Commission regarding the Deed of Gift and Declaration of Trust and entering into a Deed of Variation of the Deed of Gift and Declaration of Trust if required.

 

Reasons:

 

In order to generate a capital receipt from the sale of the Inspiration Centre and to improve service delivery at the Academy and otherwise provide an alternative means to meet the aims of the Deed of Gift.