Cheltenham Borough Council
Cheltenham Borough Council

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Decision details

Revised financing arrangements for improvements to Leisure-at-Cheltenham

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Decision:

RESOLVED THAT

 

1.    the revised programme of improvements to Leisure-at-Cheltenham as set out in section 3 of this report be approved.

2.    Authority be delegated to the Director Resources and Corporate Projects in consultation with the Cabinet Member Healthy Lifestyles and the Borough Solicitor to enter into a contract with Alliance Leisure Services and any other legal agreements and processes necessary to progress the scheme whilst safeguarding the Council’s interest.

 

Council be recommended to :

3.    Subject to the conditions in section 7 being met, authorise the Section 151 Officer, in consultation with the Cabinet Member Finance, to seek prudential borrowing of up to £2.236m at an interest rate of 2% per annum to fund the improvements to Leisure-at-Cheltenham as detailed in Section 3 of this report;

 

4.    Authorise the Section 151 Officer, in consultation with the Cabinet Member Healthy Lifestyles, to agree the most advantageous repayment methodology to reclaim the cost of the borrowing from the Cheltenham Trust;

Publication date: 07/12/2017

Date of decision: 05/12/2017

Decided at meeting: 05/12/2017 - Cabinet

Effective from: 15/12/2017

Accompanying Documents: