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Crisis-hit Rich Mix to get £500k from Tower Hamlets council

PUBLISHED: 13:00 03 August 2010 | UPDATED: 16:17 05 October 2010

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.


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