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The Committee
 
(1) 
Acknowledged the use by the Chief Executive of Special Urgency
Delegated Powers, as fully provided for in Appendix 1 of the
report, to accept the grant offer from Ocean Winds UK Ltd of
£20,000, in line with the Council’s Policy on
Commercial Sponsorship,
 
(2) 
Agreed to delegate to the Formartine Area Manager, in consultation
with the Chair, Vice Chair and Local Ward 7 Members:
i.    
The decision on the final Ocean Winds Funding Criteria devised
specifically for this fund, the draft being detailed in Appendix 2
of the report, noting that the funds of £20,000 will be
managed by the Area Manager’s Team in the same way as the
Area Committee Budget in line with the criteria to be agreed,
and
ii.  
The allocation of the funds as applications are received, with an
annual feedback report to the Committee, and informal updates as
required, and
 
(3) 
Agreed to set up a ring-fenced budget in which to receive and hold
these protected funds.