The purpose of this report is to:
· Receive an update on the progress of the refinancing of the Council’s loan facility provided to ECS Peterborough 1.
· To authorise the amendment of the current loan facility from a construction loan facility to a long term loan facility.
Decision type: Key
Reason Key: Expenditure or savings greater than £500,000;
Decision status: Recommendations Approved
Wards affected: (All Wards);
Notice of proposed decision first published: 31/01/2020
Anticipated restriction: Part exempt - View reasons
Explanation of anticipated restriction:
The decision will include an exempt annexe. By virtue of paragraph 3, information relating to the financial or business affairs of any particular person (including the authority holding that information).
Decision due: September 2020 by Cabinet Member for Finance and Corporate Governance
Lead member: Cabinet Member for Finance and Corporate Governance
Lead director: Acting Corporate Director for Resources
Department: Corporate Services
Contact: Peter Carpenter, Acting Corporate Director Resources Tel: 07920160122; Email: peter.carpenter@peterborough.gov.uk peter.carpenter@peterborough.gov.uk Tel: 07920 160122.
Consultation process
Detailed consultation was undertaken in the original decision to offer the loan facility.
Relevant Scrutiny Committee: Growth, Environment and Resources Scrutiny Committee