Purpose

To agree a capped underwriting commitment to fill a match funding gap for Wolverhampton Arts Centre (WAC) enabling them to draw down £4,999,999 Arts Council England Creative Foundation Funds towards a £5,958,027 capital project.

Decision

1. Approved the allocation as detailed within the body of the report from the Corporate Provision and Contingency for Future Programmes budget to provide a capped underwriting commitment, as funder of last resort, towards the remaining match funding up to £508,028 required for the Wolverhampton Arts Centre Creative Foundations Fund project.