Decision - Abbeycroft Leisure COVID-19 Loan Facility

Decision details

Abbeycroft Leisure COVID-19 Loan Facility

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

In response to the evolving impacts of COVID-19, the Cabinet will be asked to consider approving a business case to create a £1,000,000 loan facility for Abbeycroft Leisure, funded from the Council’s ‘Investing in our Growth Agenda Fund’.

 

Further details regarding the proposed business case will be published in the report due to be considered by Cabinet on 21 July 2020.

 

Given the urgent response required to help mitigate the impacts of COVID-19 and the timeframe that is being worked to resolve this matter, it has not been possible to provide 28 days’ notice for reporting the intended Key Decision and the potential for the matter being considered in private session. Under the Access to Information Procedure Rules of the Council’s Constitution, paragraphs 16.1 and 17.2, which requires that where the normal procedure cannot be followed in respect of the consideration of Key Decisions and matters being taken in private, the Chair of the Overview and Scrutiny Committee is to be informed as to why the matter cannot be reasonably deferred.  This has been undertaken accordingly.

Decision:

RESOLVED:

That:

 

1.       the business case to create a £1,000,000 loan facility for Abbeycroft Leisure, funded from the Investing in our Growth Agenda Fund, be agreed, as set out in section 5 of Report No: CAB/WS/20/051;

 

2.       delegated authority be given to the Council’s Section 151 Officer, in consultation with the Portfolio Holders for Resources and Performance, and Leisure, Culture and Community Hubs, and the Director, to agree the final details of the loan and enter into a loan agreement(s) with Abbeycroft Leisure; and 

 

3.       it be agreed for the Council’s Section 151 Officer to make the necessary changes to the Council’s prudential indicators as a result of recommendation 2. above.

Report author: Jill Korwin

Publication date: 23/07/2020

Date of decision: 21/07/2020

Decided at meeting: 21/07/2020 - Cabinet

Effective from: 31/07/2020

Accompanying Documents:

 

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