Decision details

Provision of loan facility to a hotel development at the John Smith's Stadium site Huddersfield

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

A proposal to invest in commercial development at the John Smith’s Stadium site Huddersfield.

Decision:

(1) That officers be authorised to enter into detailed negotiations on a loan agreement to provide up to £9m of secured senior debt funding, to the proposed hotel development at the John Smith's Stadium site, Huddersfield.

 

(2) That authority be delegated to the Director of Resources to agree the terms of the loan agreement and the Assistant Director (Legal, Governance and Monitoring) to enter into any documentation required to secure this and that the loan agreement be subject to appropriate due diligence on the business case and financial projections provided by Kirklees Stadium Ltd / Hotel Land Development Ltd in respect of the hotel proposal.

Report author: Paul Kemp

Publication date: 11/02/2016

Date of decision: 09/02/2016

Decided at meeting: 09/02/2016 - Cabinet

Accompanying Documents: