A four year funding package with York Theatre Royal has been agreed following a budget meeting at City of York Council.
The funding settlement has been agreed with a one-off, upfront capital grant of £770,000. This represents a £90k increase on the previous four years and the theatre’s Board has confirmed that the funding will allow them to manage their revenue budget going forward. The council has been in ongoing discussions with the theatre to ensure that council funding and other support meets its needs.
The settlement is the latest move by the council to help ensure that the theatre remains sustainable and can continue with its ambitious developments seen over recent years. In 2015 the council transferred the Theatre Royal building to York Conservation Trust for a nominal £1 sum, thus enabling significant additional investment to be made in the building by the trust, supported by a further five year investment plan.
York Conservation Trust is contributing more than £2 million to the current redevelopment scheme.
Councillor Nigel Ayre, Executive Member for Culture, Leisure and Tourism said: “York Theatre Royal plays a key role in the city’s cultural offer.”