The Lighthouse's financial problems ease with £250,000 loan
The Lighthouse's financial problems ease with The Lighthouse, Scotland's centre for architecture and design, is to be given a £50,000 increase in core funding by Glasgow City Council following its recent financial problems.
Following reports that The Lighthouse, Glasgow's centre of design faced a £300,000 funding defecit, a loan of £250,000 has been recieved as it looks to increase its commercial revenue.
As well as the load, the Government has also agreed that the funding of the centre will be more flexible and allow The Lighthouse to fund a more lucid list of projects while continuing to be eligable for public funding.
A business plan was agreed between the board of The Lighthouse and Glasgow City Council's executive committee last week.
It is understood that the loan will be repaid over the next 10 years while Scottish Enterprise will also support its business programme.
The decision by the Government announced last month meant that the Six Cities Design festival would not recieve funding in the future.
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