RESOLVED:
That:
(1) the content of Report No: CAB/SE/16/028 be noted;
(2) the Director be authorised to update the 2013 Memorandum of Understanding for the Guildhall Project on the basis outlined in paragraphs 1.5 and 1.8 of Report No: CAB/SE/16/028.
RECOMMENDED TO COUNCIL (28 June 2016):
(3) The principle of making a bridging loan in autumn 2016 to enable progression of the conservation works at the Guildhall, be approved; and
(4) if the loan is required, the Head of Resources and Performance, in consultation with the Leader, the Portfolio Holder for Resources and Performance and the Services Manager (Legal), be authorised to negotiate and agree the terms of such a loan with the Bury St Edmunds Heritage Trust Ltd and/or the Guildhall Feoffment Trust and to issue the funding and necessary legal agreements, taking into consideration the Council’s loans policy and subject to the value of the loan not exceeding a professional valuation of 79 Whiting Street, Bury St Edmunds (against which it will be secured).