Decision details

Decision details

Old Fire Station - Guarantor for Loan

Decision Maker: Delegated Decisions of the Board Member, Corporate Governance and Strategic Partnerships

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

This report will seek approval for the Council to act as a guarantor fopr a loan to be obtained by CAF Venturesome to support the revenue Business Plan for the organisation

Decision:

Resolved to agree

 

(1)   That Oxford City Council will, in principle, act as guarantor for a loan facility of up to £115, 000 to be supplied by a social investment bank to Arts at the Old Fire Station;

 

(2)   That authority be delegated to the Corporate Director of Finance and Efficiency to enter into an appropriate arrangement with the lender on terms that comply with the content of the officer’s report.

 

 

Report author: Laura Worsfold

Publication date: 03/08/2011

Date of decision: 03/08/2011

Decided at meeting: 03/08/2011 - Delegated Decisions of the Board Member, Corporate Governance and Strategic Partnerships

Effective from: 09/08/2011

Accompanying Documents: