Part 1 (Open to the public) ITEM NO. REPORT OF THE DIRECTOR OF CORPORATE SERVICES To the: City Council On: Wednesday, 21 April, 2004 TITLE: RECORD OF DECISION TAKEN UNDER URGENCY POWERS RECOMMENDATIONS: That Council note the matter EXECUTIVE SUMMARY: Councillor Merry as Chairman of the Lowry Committee signed a decision notice approving a payment to The Lowry Trust and entering into a 30 years lease with them for The Lowry Collection. The decision was taken under the urgency procedure in order to facilitate a package of funding measures BACKGROUND DOCUMENTS: Decision notice signed on 5th April, 2004 ASSESSMENT OF RISK: minimal THE SOURCE OF FUNDING IS: 2004/05 Revenue Budget LEGAL ADVICE OBTAINED: from the Head of Law and Administration FINANCIAL ADVICE OBTAINED: from the Head of Finance CONTACT OFFICER: Alan Eastwood 793 3000 WARD(S) TO WHICH REPORT RELATES: Not Applicable KEY COUNCIL POLICIES: DETAILS: Paragraph 5.1 of the Decision Making process as contained in the Council Constitution requires that when a decision has been taken under the urgency procedure the matter must be reported to the next available meeting of the Council. The decision that was made was to approve a payment of £1.576m to the Lowry Trust and the entering of a 30 years lease with them for The Lowry Collection. The reason for the decisions were to facilitate a package of funding measures put together by the Arts Council for England, the Millennium Commission and North West Development Agency which secures the Lowry's financial position until 2006.