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

Purpose:

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

Decision:

(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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