Board Meeting Summary
Meeting Date: Wednesday 13th February 2008
Grants to Breed Societies 2008/09
At its February 2008 meeting the HBLB approved grants to horse and pony breed societies in 2008/09 totalling £171,920.
Grants to Charities
At its February 2008 meeting, the HBLB approved charitable funding for 2008/09 totalling £25,000.
Racing Industry Training and Education Grant 2008/09
At its February 2008 meeting the HBLB confirmed its support for racing industry training and education through a grant to the British Horseracing and Standards Trust (BHEST) for 2008/09 of £692,000 unchanged from 2007/08.
Capital Fund Allocations to Racecourses
Each year the HBLB reviews its provisional allocation of interest-free loans to racecourses from the Capital Fund for the forthcoming three years. The review is based on the racecourses' future plans for improvement of their facilities, and takes account of the HBLB’s priorities for expenditure from the Capital Fund, as set out in its annual Policy Statement.
As a result of this year's review, provisional allocations to racecourses were made for planning purposes for the three years 2008 to 2011. Final approval will be subject to submission of detailed applications. The total allocation for the period averages £10.7 million a year.
(a) Capital Credit Grants : Ascot, Leicester and Huntingdon
Ascot : At its February 2008 meeting, the HBLB approved a Capital Credit Grant of up to £780,000 to Ascot, towards its improvement projects.
Leicester : At its February 2008 meeting, the HBLB approved a Capital Credit Grant of up to £7,500 to Leicester for its irrigation works.
Huntingdon : At its February 2008 meeting, the HBLB approved a Capital Credit Grant of up to £1,525,000 towards the track development at Huntingdon.
(b) Loans : Huntingdon
At its February 2008 meeting, the HBLB approved an interest-free loan of £1,250,000 to Huntingdon from its 2008/09 Capital Fund towards the construction of a new South Stand and Weighing Room.
Channel 4 Racing Grant – 2008
The HBLB approved a grant of £500k + VAT to Channel 4 for 2008 only.