Decision details
Loan to Luminus
PDF 55 KBDecision Maker: Cabinet
Decision status: Recommendations approved
Is Key decision?: Yes
Is subject to call in?: Yes
Decision:
Agreed that a loan be provided to Luminus of up to £5.5m over 30 years to fund the new extra care home, subject to confirmation of the various legal, procedural and security issues highlighted in the report and agreement of the interest rate and authorised the Assistant Director, Finance and Resources, to make the loan following consultation with the Executive Councillor for Resources on these issues, subject to the Executive Councillor having the right to require agreement of the details to be determined by Cabinet.
Reasons for the decision:
In response to a request for a loan by Luminus.
Report author: Steve Couper
Publication date: 21/11/2013
Date of decision: 21/11/2013
Decided at meeting: 21/11/2013 - Cabinet
Effective from: 30/11/2013
Accompanying Documents:
- Restricted enclosure View reasons restricted