Page 592 - Royal Liverpool Philharmonic Coverage Book 2023-24

Liverpool Philharmonic Hall(Image: Publicity Picture)
The decision was signed off by Cllr Ruth Bennett, deputy leader of Liverpool

Council and cabinet member for finance, resources and transformation. It was

confirmed on August 9 under delegated powers. The 100-year lease was

agreed between the two parties in 2013.

The loan is unsecured and will be paid back from next year but could be paid

back sooner “if practicable” with any break costs to be met by the Royal

Liverpool Philharmonic Society. The documents said how the society’s finance
director has confirmed proposed repayments are funded and affordable

within the timescale.

They added: “The council is assured it is the funder of last resort. In

accordance with the grant conditions for Arts Council funding, all avenues of

funding have been explored by the Royal Liverpool Philharmonic Society.”