Decision - i360 Loan Agreement

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Decision details

i360 Loan Agreement

Decision Maker: Policy & Resources Committee (pre 2015)

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes


For a member decision on the terms and conditions to the brighton i360


(1)               That the structure and terms of the loan that have been agreed to date as set out in paragraphs: 4.2, 4.3, 4.7 and 4.8 of the report be noted;


(2)               That the Director of Finance and Strategic Director; Place, after consultation with the Chair of Policy & Resources Committee be authorised to finalise terms and enter into the proposed loan agreement with Brighton i360 Ltd with a target of financial close by mid September 2012 and to take all steps necessary or incidental to the completion and implementation of the agreement;


(3)               That the Head of Legal and Democratic Services be authorised to complete all necessary documentation and take all necessary action to effect completion of the proposed loan; and


(4)               That the inclusion of the commercial loan to Brighton i360 Ltd in the Capital Resources and Capital Investment Programme 2012/13 (and the following two years’ capital programmes) to be funded through unsupported borrowing be approved.

Report author: Katharine Pearce

Publication date: 12/07/2012

Date of decision: 12/07/2012

Decided at meeting: 12/07/2012 - Policy & Resources Committee (pre 2015)

Effective from: 20/07/2012

Accompanying Documents:

  • Item 27 i360 report Final
  • Enc. 1 for i360 Loan Agreement
  • Enc. 2 for i360 Loan Agreement


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