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Notice relating to s. 282 Charities Act 2011 resolution to spend permanent endowment

Notice first published 23 May 2024

The Chester Bluecoat Charity (Charity Number: 1186378), as trustee of Chester Municipal Charities (Charity Number: 1077806) (hereinafter referred to as ‘Chester Municipal’) gives notice that Chester Municipal has resolved, subject to Charity Commission consent, to release investment permanent endowment funds in the amount of £1,026,824 presenting two investment portfolios and the following properties:

    1. 45 Eastgate Street, CH1 1LR
    2. 47 Eastgate Street, CH1 1LG

(‘the Fund’).

At the moment, only income generated by the investment permanent endowment fund (which totalled £22,849 to 31 December 2022) is available for Chester Municipal’s charitable purpose, and the capital of the fund must remain invested.

The Trustee of Chester Municipal considers that it is in Chester Municipal’s best interests for the investment permanent endowment fund to be released to fund (amongst other future projects and initiatives in line with the objects of the Charity) a new project aimed at supporting children throughout their early-years development within Chester (‘the Project’).

Implementing the new Project requires capital investment to develop both the infrastructure to deliver the learning, and the breadth of courses that will be available.

Any person with an interest in Chester Municipal may make representations or comments to the Chester Bluecoat Charity in relation to the above mentioned resolution to spend permanent endowment by emailing office@thechesterbluecoatcharity.co.uk within 28 days from the date on which the notice was first published (see above).