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V25-1574 : LOWESTOFT SEAFRONT AIR FESTIVAL

The report of the Director of Community Services set out the plans to date for the 1998 Lowestoft Seafront Air Festival, including a review of the financing of the event. It was proposed to expand the event to a two day Air Festival, with the headliner for the event being the Red Arrows.

Funding for this year's £75,000 event was possible, due to the support of the business group called The Lowestoft Air Festival Committee. It suggested that the European Regional Development Fund would be the major sponsor, as it had not proved possible to date to attract a major sponsor from the business sector.

The Director reported that there was a possibility of two other areas of funding being offered which could be used as matching funding on the GOER application which was due to be submitted this month. He suggested delaying the application until these offers were confirmed in order to be able to include them in the bid.

The Committee felt that as the above information had only been given to them this evening, and the financial risk to the Council underwriting the event was not known, a decision on whether the Air Festival should proceed should be referred to Policy and Resources Committee.

RESOLVED

That consideration of the holding of the Lowestoft Seafront Air Festival be referred to the Policy and Resources Committee.

Volume 25 Minute 1574

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