That:

1)    The development of a Development Foundation for Torre Abbey be approved;

2)    The Director of Place be delegated authority to establish a Memorandum of Understanding between the Council and the Torre Abbey Foundation, in consultation with the Cabinet Member for Infrastructure, Environment and Culture and the Monitoring Officer; and

3)    The Director of Place write a letter of thanks to the Friends of Torre Abbey group recognising how vital their contribution is to the ongoing development of Torre Abbey.

Since the Covid-19 Pandemic grant funding had become even more competitive and necessary.  With many funding pots being oversubscribed and only available to charities, restrictions that limited the funding avenues for Torre Abbey.  A Development Foundation would open up the opportunity for Torre Abbey to apply to a wider range of funds and to make use of the government Gift Aid scheme.

The alternative options were:

Option 1: Stay as is – this is not feasible as Torre Abbey needs to increase the funding it receives to pay for essential maintenance work and a variety of projects.

Option 2: Request Support from Friends of Torre Abbey (FOTA) – FOTA have confirmed they are unable to undertake the level of funding bids required to be submitted by a charitable arm and do not wish to supply gift aid support.

This decision will come into force and may be implemented on Monday, 1 November 2021 unless the call-in procedure is triggered (as set out in the Standing Orders in relation to Overview and Scrutiny).

The Cabinet were asked to approve the development of an independent foundation with charitable status to support Torre Abbey.  The foundation will secure additional funding enabling Torre Abbey to move towards becoming a financially sustainable asset.  The governance and operating model of Torre Abbey will not change. The asset will remain under the care and management of Torbay Council. The foundation will simply raise funds to support the asset.

At the meeting, Councillor Morey proposed and Councillor Steve Darling seconded a motion that was agreed unanimously by the Cabinet, as set out above.

Councillor Bye declared a personal interest as a Member of the Torre Abbey 1196 Club.