Issue - meetings
Property Acquisition Scheme Proposal
Meeting: 01/03/2021 - Council (Item 243)
243 Property Acquisition Scheme Proposal 
PDF 89 KB
Additional documents:
- Property Acquisition Scheme Proposal - Report to Executive, item 243
PDF 328 KB
- Property Acquisition Scheme Proposal - Appendix 1, item 243
PDF 63 KB
- Property Acquisition Scheme Proposal - Appendix 2, item 243
PDF 73 KB
- Property Acquisition Scheme Proposal - Appendix 3, item 243
PDF 196 KB
Minutes:
Report CSD21030
A motion to agree the loan of £20m to the LLP for a period of 50 years with annual repayments starting from year 3 of 1.6% (£320k) per annum and increasing annually by CPI (collared at 0-4%), funded from the Housing Invest to Save Fund (£14m) and uncommitted Investment Fund (£6m) earmarked reserves, and to agree to enter into a guarantee agreement with the Funder to guarantee the loan facility of £60-£65m to the LLP and undertake to meet the liabilities of the LLP in respect of the loan facility in the event of loan repayment default, was moved by Councillor Peter Morgan, seconded by Councillor Colin Smith and CARRIED.