Issue details

It will be necessary to retain two of the papers as exempt annexes because they contain information on the heads of terms agreed with Axiom Housing, as well as the legal advice relating to those arrangements. These exempt annexes are NOT FOR PUBLICATION by reason of paragraph 3 of Schedule 12A of Part 1 of the Local Government Act 1972. The public interest test has been applied to the exempt information and it is considered that the need to retain the information as exempt at this stage outweighs the public interest in disclosing it. This is because the information is considered to be commercially confidential, as to disclose may compromise the Councils ability to benefit from similar arrangements in the future. 

The Cabinet Member:

1. Approved the Council entering into a £30 million, 30 year loan agreement with Axiom Housing Association Ltd

2. Delegated to the Executive Director Resourcesthe preparation and conclusion of the legal agreement between the Council and Axiom Housing Association Ltd in respect of the loan.