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1.           
Noted the Council’s Cabinet on the 24th of
July 2024 approved the borough's first written Culture Strategy
that complements the vision and missions of Our Greenwich to enable
the Council to provide a strategic framework to respond to the
needs of the cultural sector and our communities.

2.           
Noted the Council’s Cabinet agreed on 13th
March 2024 to support the 10-year Regeneration Plan (2024 to 2034)
with a significant focus on Woolwich Town Centre and the
surrounding areas to realize the town centre's economic
regeneration, a key priority for the Council.

3.           
Noted that the Council has been a long-standing
significant supporter of Tramshed
previously known as Greenwich and Lewisham Young People Theatre
(GLYPT) since at least 2009.

4.           
Noted that Tramshed is
delivering a number of key community and cultural benefits, in line
with KPIs set out in their VCS funding agreement for 2023 to 2027.
These include participatory and training opportunities for children
and young people, health and wellbeing activities for residents,
and a programme for adults with learning disabilities. Tramshed also supports grassroots cultural
organisations and local emerging/established artists.

5.           
Noted that Tramshed
approached the Council for additional financial support in June
2023, having been impacted by a reduction in funding being secured
from external sources, the cost-of-living crisis impacting their
income as well as delays with the re-occupation of the building
following refurbishment and energy costs remaining historically
high.

6.           
Noted that in August 2023, the Council agreed a loan
facility of up to £200,000 for the organisation.

7.           
Noted that Tramshed
approached Council Officers to request the remaining £75,000
of the loan be made available to them in November 2024.

8.           
Noted that the issues affecting Tramshed are being felt by many other cultural
organisations in London, as Arts Council England increased funding
for projects outside London, resulting in a huge reduction in
investment in the capital.

9.           
Agreed the conversion of the £125,000 advanced
loan facility to a grant and termination of the Loan Facility
Agreement.

10.        
Agreed to the advance of a further £75,000 in
grant funding, in-line with the original Loan
Facility.