The Cabinet resolved to:
(i) Procure an online crowdfunding platform from Crowdfunder UK and work in partnership with the organisation to deliver an initial 12-month pilot campaign, with the intention to maintain the partnership for a second year to further build capacity and mainstream crowdfunding as an alternative finance model, as detailed in Appendix 1 to the report;
(ii) Introduce a small grants fund by establishing, using the Council’s financial reserves, a match-funding pot of £120,000 for awarding to local projects that meet criteria set by the Council;
(iii) Agree, in principle, the draft Match-Funding Policy at Appendix 2 to the report;
(iv) Delegate authority to the Strategic Director of Finance and Investment to agree the final Match-Funding Policy in the light of any amendments that may be required during the development / implementation phase to take account of emerging issues; and
(v) The establishment and terms of reference of the Match-Funding Panel as set out in Appendix 3 to the report.