Tourism Development Fund: Rejection of Grant to National Trust for Jersey: Renovation of buildings in Pitt Street, St. Helier

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A decision made 14 August 2015:

Decision Reference: MD-E-2015-0069
Decision Summary Title :	Tourism Development Fund – rejection of a £300,000 grant to the National Trust for Jersey		Date of Decision Summary:	07 August 2015
Decision Summary Author:	Assistant Director		Decision Summary: Public or Exempt? (State clauses from Code of Practice booklet)	Public
Type of Report: Oral or Written?	Written		Person Giving Oral Report:	N/A
Written Report Title :	Tourism Development Fund – rejection of a £300,000 grant to the National Trust for Jersey		Date of Written Report:	07 August 2015
Written Report Author:	Assistant Director		Written Report : Public or Exempt? (State clauses from Code of Practice booklet)	Public
Subject: Tourism Development Fund – rejection of a proposed grant in the sum of £300,000 to the National Trust for Jersey (NTJ) for the renovation of buildings in Pitt Street.
Decision(s): The Minister rejected a recommendation from the Tourism Development Fund Advisory Panel that £100,000 be immediately granted to the National Trust for Jersey for the renovation of derelict buildings in Pitt Street, and that an additional £200,000 be made available as funding allowed.
Reason(s) for Decision: The Tourism Development Fund Advisory Panel is comprised of members drawn from the private sector who are charged with making recommendations with regard to awarding grants from the Fund. The original application by the NTJ was recommended by the Panel for approval based on the position that the funding would allow revitalisation of the Pitt Street area. After due consideration, and having received advice from Officers, the Minister was concerned that in this case there was a significant risk that resources would be devoted to financing a project that could be satisfactorily completed without the expenditure of public money. It appeared to the Minister that the NTJ had sufficient access to alternative sources of funding to undertake the renovation of the properties.
Resource Implications: No grant is to be made in this case.
Action required: The Minister instructs the Strategic Development Officer to inform the NTJ and other relevant parties of his decision.
Signature: Senator L J Farnham		Position: Minister for Economic Development
Date Signed:		Date of Decision (If different from Date Signed):