Issue - meetings

A report seeking approval to amended terms for the above loan facility previously approved by Cabinet on 20th September 2016.

Wards: N/A

Contact:  Paul Kemp, Service Director Economy, Regeneration and Culture Tel: 01484 221000

That the proposals set out in the report, plus the following specific recommendations, be approved:-

1)    To support, in principle, an offer of secured loan funding to the Snow Sports Centre SPV that will develop the snow sports facility at the John Smith’s Stadium site.

2)    To agree to authorise the Strategic Director Economy & Infrastructure, supported by the Councils S151 Officer and the Service Director Legal, Governance and Commissioning, to enter into detailed due diligence on the loan proposal and progress negotiations on appropriate legal documentation to offer a secured loan.

3)    To agree to delegate authority to the Chief Executive in consultation with the relevant Portfolio Holders to agree the final terms of the loan offer.

4)    To agree to delegate to the Service Director Legal, Governance and Commissioning the authority to negotiate and enter into any documentation required in connection with the proposed loan.