Crisis-hit Rich Mix to get �500k from Tower Hamlets council
THE troubled Rich Mix is to be given a �500,000 bail-out by the Town Hall following intense discussions last night. Bethnal Green s crisis-hit arts project was forced to go cap in hand once again to Tower Hamlets council to ask for a cash lifeline to sa
THE troubled Rich Mix is to be given a �500,000 bail-out by the Town Hall following intense discussions last night.
Bethnal Green's crisis-hit arts project was forced to go cap in hand once again to Tower Hamlets council to ask for a cash lifeline to save it from going under.
And last night the council's Strategic Development Committee approved officers' recommendation to hand over the cash to pay-off the centre's looming deficit and if they meet certain targets to give bosses additional instalments over the next year that would amount to more than �2m.
The bail-out comes despite the centre already receiving �3.9m of funding from the council since 2002 including a loan of �850,000 which has not yet been repaid.
Officers said discussions over how the loan was to be repaid had been "on-going" for four years.
The council is planning to use section 106 money from the 25-storey block of flats being built opposite the centre on the corner of Bethnal Green Road and Sclater Street.
Most Read
- 1 East London boroughs lag behind rest of country for Covid booster uptake
- 2 Jailed: Man who robbed and blackmailed men he met on Grindr
- 3 Ranjith Kankanamalage death: Man charged with murder
- 4 Travel disruptions: Hackney, Islington, Tower Hamlets, Newham
- 5 Gun found in car as Met makes 130 arrests during drugs op
- 6 Councillor says he 'hopes to lose' next election
- 7 Jailed: Rapist who repeatedly attacked woman in her own home
- 8 Patients with Covid in east London hospitals fall after rising for weeks
- 9 Olympian burglary: Men with links to Plaistow and Isle of Dogs wanted
- 10 One per cent council tax rise planned with borough set for balanced budget
