Decision details

Financing arrangements for improvements to Leisure-at-Cheltenham

Decision Maker: Cabinet

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To consider the Cheltenham Trusts proposals for the development of sport and leisure facilities.

Decision:

RESOLVED THAT

 

1.    the proposed improvements to Leisure-at-Cheltenham as set out in this report be approved

 

2.    Council, subject to the conditions set out in section 6 being met to the satisfaction of the Section 151 Officer in consultation with the Cabinet Member Finance be recommended to authorise :

 

3.    The Authority to offer a loan of up to £1.5million at an interest rate of 3% per annum to the Cheltenham Trust for onward funding of the improvements to Leisure-at-Cheltenham as detailed in Section 3 of this report;

4.    The Authority entering into a loan agreement with The Cheltenham Trust for the sum of up to £1.5m at an interest rate of 3% per annum for onward funding of the improvements to Leisure-at-Cheltenham as detailed in Section 3 of this report.

Report author: Mark Sheldon

Publication date: 09/03/2017

Date of decision: 07/03/2017

Decided at meeting: 07/03/2017 - Cabinet

Effective from: 17/03/2017

Accompanying Documents: