Issue - decisions

That the Individual Cabinet Member:

 Approves the next stage of agreed loan payments to SHC on the following terms:

Payment Schedule

Payment 1 - £756,000 in July 2018 or as soon as the loan agreement is in place.

Payment 2 - £924,000 in January 2019 subject to an approved Business Case and confirmation that development finance is available.

Interest Rate

5.75% above Bank of England base rate, to be repaid within 5 years of the date of land demise of the first site in Phase 5.