Amendment of Hotel Loan Facility for Fletton Quays Hotel - NOV19/CMDN/56
Decision Maker: Cabinet Member for Finance
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
The Cabinet Member agreed to reflect the change of ownership structure of Fletton Quays Hotel Ltd within existing loan agreements.
Reasons for the decision:
The construction of the loan facility documentation is required to reflect the new ownership structure of Fletton Quays Hotel Ltd and will allow the Cabinet Decision SEP17/CAB/41 to be implemented.
Alternative options considered:
The Council could choose not to accept the change in ownership structure of Fletton Quays Hotel Ltd. This would prevent the Council from providing the loan facility and delay the construction of the hotel while an alternative source of finance was sought.
Interests and Nature of Interests Declared:
Cabinet Report SEP17/CAB/41
Publication date: 20/11/2019
Date of decision: 20/11/2019
Effective from: 26/11/2019