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Decision details

Provision of Loan Finance to Blackpool Transport Limited

Decision Maker: Executive

Decision status: For Determination

Is Key decision?: Yes

Is subject to call in?: Yes


To seek approval for the Council to make a loan to Blackpool Transport Services Ltd (BTSL) who wish to replace 35 time expired buses with new vehicles using finance provided by the Council.



The Executive agreed the recommendations as outlined above namely:


  1. To Prudentially Borrow £7,740,000 over a term of 10 years to lend to Blackpool Transport Services Limited.


  1. To offer Blackpool Transport Services Limited a loan facility of £7,740,000 to fund the purchase of 10 double buses in June 2016 (£2,211,000) and 25 vehicles in June 2017 (£5,527,500), each loan to be repaid over ten years with 120 monthly repayments.


  1. To offer Blackpool Transport Services Limited a short term facility of up to £1,100,000 for 2 months in order to manage cash flow in respect of the VAT payable on the transaction.


Publication date: 24/05/2016

Date of decision: 23/05/2016

Decided at meeting: 23/05/2016 - Executive

Effective from: 28/05/2016

Accompanying Documents: