Revolving Construction Loan to Low Carbon Hub IPS
Decision Maker: Council
Decision status: Recommendations approved
Is Key decision?: Yes
Is subject to call in?: No
Investment in the Ray Valley Solar Farm project being developed by the Low Carbon Hub; a key renewable energy development for Project LEO (Local Energy Oxfordshire), in which the City Council is a partner organisation.
Council considered a report of the Head of Financial Services submitted to the Cabinet on 29 May 2019 seeking approval of a revolving loan facility for the Low Carbon Hub IPS (Industrial and Provident Society).
Councillor Turner, the Cabinet Member for Finance and Asset Management presented the report and answered questions. He moved the recommendations, which were agreed on being seconded and put to the vote.
Council resolved to make budget provision of £2.3 million to enable the revolving loan facility to the Low Carbon Hub to be created.
Report author: Bill Lewis
Publication date: 09/08/2019
Date of decision: 22/07/2019
Decided at meeting: 22/07/2019 - Council