Option 5 - To support the Southampton 2025 expression of interest for the UK City of Culture bid by confirming the Isle of Wight as a regional partner and providing an initial £10,000 contribution for this purpose, from within the existing budgets available for strategic partnerships.
To instruct council staff to work with the bid team to identify the most appropriate programme of activities to take place, should the bid be successful, to support the Island's cultural regeneration and maximise the economic and cultural benefits for the Island.
Should the SO2025 bid be successful, delegate the decision regarding further council support of £50,000 to support Island implementation of the bid's proposed activity programme to the Cabinet member for Regeneration and Business Development. then the additional funding as a regional partner of £10,000 per annum for the five years up to and including 2026 be the first call on the council’s regeneration budget in each of those years.