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 considered on balance that the public interest would not be served by publishing the information as it could prejudice the applicant’s proposed investment.

Notification has been given on the 10 February 2020 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. That under Section 100 (A) of the Local Government Act 1972, the public be excluded from the Executive meeting during consideration of this item and decision on the grounds that it would involve the likely disclosure of exempt information as defined in paragraph 3 of Part 1 of Schedule 12A of the Act, namely information relating to the financial or business affairs of any particular person.

2. To authorise in principal the provision of business loan and the changes to the previously approved loans in the terms as outlined in the exempt report to the Executive.  

3. To delegate authority to the Chief Executive after consultation with Officers on the Business Loans Panel and completing due diligence to finalise specific terms of the loan including appropriate interest rate, repayment conditions and legal conditions, plus any related fees to be applied.

4. To authorise the Head of Legal Services to ensure that the appropriate legal documentation for the loan facility and associated security charges are put in place.