Board Meeting Summary
Meeting Date: Wednesday 29th March 2017
Capital Credit Allocations : April and May 2017
The Board approved:
1. Raceday Services transfers to Capital Credits of £294,190 for the period 1st April to 31st May 2017.
2. Prize Money transfers to Capital Credits of £1,039,984 for the period 1st April to 31st May 2017.
3. Fixture Incentive Fund transfers to Capital Credits of £14,800 for the period 1st April to 31st May 2017.
4. Transfers to Capital Credits of additional requests made subsequently by racecourses for specified prize money-related grants yet to be awarded but which are allocated at a later date for the period 1st April 2017 to 31st May 2017. These include Appearance Money and Divided Races payments.
Capital Credit Applications: Redcar and Salisbury
The Board approved:
- A Capital Credit Grant to Redcar racecourse of £59,391 for the Wi-Fi project.
- A Capital Credit Grant to Salisbury racecourse of £147,690 for hospitality refurbishment.
All drawdowns were to be subject to the Executive’s receipt of appropriate documentation and the racecourse having a Capital Credit balance equal to or greater than the requested amount at the time of drawdown.
19th April Board meeting
The Board agreed to hold an additional meeting on 19th April 2017.