Issue - meetings

(This item to be considered in private by virtue of Paragraph 3 of Schedule 12a of the Local Government Act 1972 as the report contains information relating to the financial or business affairs of any particular person (including the authority holding that information))

It is not in the public interest to disclose this information at present although information will be made public as soon as possible.

Notification has been given on the 16 March 2018 that this item was to be considered in private and no representations have been received in response to this notification.

The Executive resolved as follows:

1.      To exclude the public and press by virtue of Paragraph 3 of Part 1 of Schedule 12A of the Local Government Act 1972.

2. To authorise the provision of a business loan in the terms as outlined in the confidential report to the Executive.  

3.      To authorise the Head of Legal to prepare legal documentation for the loan facility and associated security charges.

4.      To delegate authority to the Chief Executive after consultation with Officers on the Business Loans Panel to finalise specific terms of the loan including interest rate, repayment conditions and legal conditions such as the drawdown of the loan facility against agreed development milestones, plus any related fees.