Corn Exchange Cuts
Cambridge City Council is dramatically reducing the amount of funding it provides to Cambridge Corn Exchange.
The authority will cut it's contribution to the arts venue by £350,000 per year.
In a statement, the Council said the decision is "in line with an action plan launched last autumn which is designed to introduce operational improvements and changes to the performance programme while still allowing the venue to be managed in-house by the council."
At the moment, Cambridge City Council contributes £500,000 a year to the running of the Corn Exchange, which will be cut to £150,000 per year.
The Council also adds that the Corn Exchange is not ranked highly in resident's surveys compared to other Council activities.
Cambridge City Executive Councillor for Arts and Recreation, Rod Cantrill said: "It was clear from our residents’ surveys that people expect more from the Corn Exchange.
We are making this saving in an attempt to improve the financial performance of the Corn Exchange while at the same time working to make it more appealing. We will also be looking at other ideas of how to increase the use of the space."
It's not clear what impact these cuts will have to the Corn Exchange.
More follows later.