Decision details
UNSECURED LOAN TO SOMERSHAM PARISH COUNCIL
PDF 29 KBDecision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
Purpose:
To consider a request for an unsecured loan of up to £10,000 to Somersham Parish Council to enable improvement of the skate ramp located at the Playing Fields, Parkhill Road, Somersham.
Decision:
The Cabinet agreed to:
§ make a loan to Somersham Parish Council, of up to £10,000, up to 6 years in duration, and at a rate of interest to be determined by the Head of Resources in consultation with the Executive Councillor for Resources resulting in no cost to the District Council as a minimum; and
§ has authorised the Head of Resources to complete the necessary loan agreement and other legal documentation as required.
Reasons for the decision:
To enable the residents of Somersham to continue to enjoy a popular local amenity.
Alternative options considered:
As outlined in report.
Resource Implications:
As outlined in report.
Publication date: 22/03/2019
Date of decision: 21/03/2019
Decided at meeting: 21/03/2019 - Cabinet
Accompanying Documents: