Purpose

This report will seek approval to award
Paddington Arts (Charity number: 298879) capital funding for the
development of their premises in North Paddington

Decision

Cabinet approved the
following recommendations:

·      
Approved spend of £1,250,000 from the Paddington Arts Capital
Budget within the Council’s approved capital programme.

·      
Approved the award of a capital grant of £2,719,000 to
Paddington Arts (Company number: 02224403; Charity number: 298879),
as match-funding for the completion of their Building Development
Project at 32 Woodfield Road, London and for the Council to enter
into a grant agreement and any other documents necessary to give
effect to the award.
 
Reasons for Decision: Paddington Arts
is a vital community organisation that has faced reductions in
public sector funding and rising operational costs. This investment
is essential to safeguard and expand its provision, ensuring
long-term sustainability and enabling the charity to meet the
growing needs of local young people and communities. The proposed
building expansion will enhance their  ability to generate income, provide high-quality
cultural and creative services, and contribute to inclusive
regeneration in North Paddington.