Louth Town Partnership (LTP) will cease to exist at the end of this month, after East Lindsey District Council confirmed that it will not release any further funding to the Partnership due to a lack of sustainability.
Speaking to the Leader last week, LTP Chairman Jerry Gale said that “no real progress” had been made towards the key objective of the Partnership becoming self-funding, partly due to the difficult financial climate.
East Lindsey District Council’s decision to refuse further funding follows a review meeting which took place on Friday November 28, following which the Partnership handed employees Nicola Marshall (Town Manager) and Roz Laggan (Town Coordinator) their redundancy notices.
The District Council’s Portfolio Holder for Economic Regeneration, Councillor Craig Leyland, said: “Since 2009, the District Council has supported Louth Town Partnership with around £300,000 of funding.
“In 2013, the District Council agreed to support the Partnership with two additional years of funding at £45,000 per year, which would be released to the Partnership based on agreed key objectives being achieved.
“Unfortunately, the Partnership has not been able to show any evidence of progress in achieving those key objectives and therefore is not sustainable. As a result of this, the District Council will not release any further funding to the Partnership, other than to cover existing commitments.”
Visit www.louthleader.co.uk for further updates.