Cabinet considered the report and RESOLVED to:
1. Approve the extension of the expiry date of the £15m loan facility with Propiteer Hotels Ltd and its subsidiary Fletton Quays Hotels Ltd from 31 March 2023 to 31 December 2023 subject to confirmation being received that the rights and security of the Council will be unaffected by this extension.
2. Delegate authority to the Director for Law and Governance (Monitoring Officer) and the Executive Director for Corporate Service and s151 officer in consultation with the Cabinet Member for Finance and Corporate Governance,following receipt of confirmation that therights and security are unaffected of the Council are unaffected by this extension to take all necessary steps to finalise, agree and enter into all necessary legal agreements for the purposes of facilitating the decision in Recommendation 1.