Gateshead Trading Company Update and Impact of Covid 19
Report of the Strategic Directors, Resources & Digital and Corporate Services & Governance
Minutes:
Consideration has been given to the impact of Covid-19 on Gateshead Trading Company and to the allocation of a grant to mitigate the financial impact of the pandemic on the Company. |
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RESOLVED - |
(i) |
That the impact of Covid-19 pandemic on the activities of Gateshead Trading Company be noted. |
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(ii) |
That the allocation of Covid-19 grant for a maximum value of the amount set out in the report, to Gateshead Trading Company, to mitigate the additional unforeseen financial impact of the pandemic be approved. |
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The above decision has been made for the following reasons: |
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(A) |
To contribute to the sound governance, operational and financial management of the Council’s wholly owned subsidiary companies. |
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(B) |
To support the delivery of homes in Gateshead, including affordable, which contribute to achievement of Thrive priorities. |