A £22 million fund offering grant funding to Anglesey projects will be taken over by new management.
Members of the Isle of Anglesey Charitable Trust have backed plans to transfer control to a new group as part of an overhaul of a legacy fund, set up in 1990 following the closure of the Shell oil terminal near Amlwch.
The Isle of Anglesey Charitable Association, which will take responsibility from Monday (30th September), will be overseen initially by a board of trustees, made up of county councillors.
But the new setup will also allow two independent trustees to be appointed in the future.
Anglesey Council said it would provide the ”flexibility needed to make the best possible future use of the funding.”
Trust chairman Trefor Lloyd Hughes said: ”Since its formation in 1990, the Trust has provided substantial grant funding to various organisations and charitable causes.”
”The positive effect of this important financial support has been felt in local communities across the length and breadth of our island. However, we’ve been deliberating carefully for some time now how best to future proof the fund’s management structure.”
”By transferring control of the fund over to the new Charitable Association model, we are confident that it will provide the flexibility needed to make even better use of this unique, and substantial, funding pot.”
The Charitable Trust, which runs an annual grants programme, started accepting applications for larger grants in 2015, when the former Shell site at Rhosgoch was sold off for £3 million.
It will cease to exist once the new Charitable Association is fully up and running.