Issue - meetings
Meadowship Homes Phase 2 (Part 1)
Meeting: 25/07/2022 - Council (Item 28)
28 Meadowship Homes Phase 2 (Part 1) 
PDF 194 KB
Additional documents:
- Enc. 1 for Meadowship Homes Phase 2 (Part 1), item 28
PDF 491 KB
- Enc. 2 for Meadowship Homes Phase 2 (Part 1), item 28
PDF 148 KB
- Enc. 3 for Meadowship Homes Phase 2 (Part 1), item 28
PDF 145 KB
Minutes:
Report CSD22083
A motion to approve the following recommendations from the Executive was moved by Councillor Tone Owen, seconded by Councillor Shaun Slator and CARRIED –
(1) Agree the loan of up to £15m to the LLP for a period of 50 years with annual repayments starting from year 3 of 1.6% per annum and increasing annually by CPI (collared at 0-5%), funded from unallocated balances on the Housing Investment Fund, Housing Invest to Save Fund and New Homes Bonus earmarked reserves.
(2) Agree to enter into a guarantee agreement with the Funder to guarantee the loan facility of up to £100m 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.