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Herefordshire Council has thrown the Ross-on-Wye International Festival a financial lifeline in a bid to save the event from permanent closure.
A loan of £30,000 and an advance payment of its annual grant are part of the rescue package accepted by the Festival board on Wednesday, December 10.
However, the lifeline is subject to the Festival rethinking its longer term viability and meeting a number of conditions designed to safeguard the Council’s investment as highlighted in the recent Festival Review
Cllr Roy Stockton, Cabinet Member (Community and Social Development), said: “Offering additional financial support to the Ross-on-Wye International Festival is not a decision made lightly but is the result of much deliberation.
“If we don’t offer this lifeline now it’s almost certain the Festival will fold in a matter of weeks and the many benefits flowing to the County from the event will be lost.
“It must be stressed the package is subject to Festival organisers restructuring the event, reining in costs and a Council Member becoming a voting member of the Festival Board of Trustees.
“It is hoped with these changes the Festival is able to get back on its feet and again become a viable and rich cultural event benefiting the whole community. “
The package is:
· A loan of £30,000 is made to the festival to be paid back over three years.
· Half of the Council’s annual funding (Service Level Agreement) for 2004/5, of £10,000, be paid in January 2004 as an advance payment.
· A Council Member becomes a voting member of the Festival Board of Trustees over see the key recommendation of restructuring the festival.
David Bilton, Festival Director, said: “We are delighted that Herefordshire Council has taken the important decision to offer additional support to the Festival.
“This reflects the value of the Festival in the region both artistically and economically.”
Additional income from the Arts Council has helped to address the short-term financial problem, which will enable the festival to flourish in the future and create a vibrant and viable festival that both visitors and local people and enjoy.
Lifeline for Ross On Wye festival
Herefordshire Council has thrown the Ross-on-Wye International Festival a financial lifeline in a bid to save the event from permanent closure.
A loan of £30,000 and an advance payment of its annual grant are part of the rescue package accepted by the Festival board on Wednesday, December 10.
However, the lifeline is subject to the Festival rethinking its longer term viability and meeting a number of conditions designed to safeguard the Council’s investment as highlighted in the recent Festival Review
Cllr Roy Stockton, Cabinet Member (Community and Social Development), said: “Offering additional financial support to the Ross-on-Wye International Festival is not a decision made lightly but is the result of much deliberation.
“If we don’t offer this lifeline now it’s almost certain the Festival will fold in a matter of weeks and the many benefits flowing to the County from the event will be lost.
“It must be stressed the package is subject to Festival organisers restructuring the event, reining in costs and a Council Member becoming a voting member of the Festival Board of Trustees.
“It is hoped with these changes the Festival is able to get back on its feet and again become a viable and rich cultural event benefiting the whole community. “
The package is:
· A loan of £30,000 is made to the festival to be paid back over three years.
· Half of the Council’s annual funding (Service Level Agreement) for 2004/5, of £10,000, be paid in January 2004 as an advance payment.
· A Council Member becomes a voting member of the Festival Board of Trustees over see the key recommendation of restructuring the festival.
David Bilton, Festival Director, said: “We are delighted that Herefordshire Council has taken the important decision to offer additional support to the Festival.
“This reflects the value of the Festival in the region both artistically and economically.”
Additional income from the Arts Council has helped to address the short-term financial problem, which will enable the festival to flourish in the future and create a vibrant and viable festival that both visitors and local people and enjoy.