To agree a follow-on loan agreement for existing and future loans to Oxwed LLP.

The existing loan agreement ends on 31st March 2025 and a replacement loan agreement is required.

Since the Oxwed LLP still requires loans to progress the development, the only other option would be to require the LLP to seek loans from elsewhere.  This is not considered appropriate because this would result in interest being paid to parties other than the Partners, thus resulting in a lower overall return to the Council.  Additionally if a third party lender were to be involved this would dilute the control that the partners of the LLP currently have over shaping the development.