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Decision details

THE BLACKPOOL BUSINESS LOANS FUND - RESCHEDULING OF AN EXISTING LOAN

Decision Maker: Leader of the Council and Cabinet Member for Tourism, Arts and Culture

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

To seek approval to reschedule the capital payment on an existing loan in order to release cash to the applicant to enable additional development to take place.

 

Decision:

The Leader of the Council resolved to agree the following resolution an urgent decision in line with paragraph 16 of Part 4e of the Council’s Constitution on the grounds outlined in paragraph 15.2 above.

 

  1. To agree the rescheduling of £495,000 with the full repayment to contained within the existing timeframe.

 

  1.  To authorise the Head of Legal to vary the provisions of the existing legal agreement.

 

Urgent item?: Yes

Publication date: 31/05/2018

Date of decision: 31/05/2018

Accompanying Documents: