The Heads of Financial Services and of Community Services have submitted a report to the City Executive Board meeting on Tuesday 15 May at 3.00pm asking the CEB to consider a loan guarantee to Rugby Football Union in respect of a loan of up to £100k to Oxford Harlequins Rugby Football Club and make a recommendation to this meeting.

Recommendations: subject to the decision of the City Executive Board Council is recommended to resolve:

provide a loan guarantee to the Rugby Football Union in respect of a loan of up to £100k to Oxford Harlequins Rugby Football Club for funding improvements to changing room facilities at Horspath Athletic Grounds, on terms agreed in advance by both the Council’s Head of Financial Services and the Executive Director for Sustainable City.

Council considered the decision of the City Executive Board at its meeting on Tuesday 15 May at 3.00pm, and on being proposed and seconded:

Council resolved to:

provide a loan guarantee to the Rugby Football Union in respect of a loan of up to £100k to Oxford Harlequins Rugby Football Club for funding improvements to changing room facilities at Horspath Athletic Grounds, on terms agreed in advance by both the Council’s Head of Financial Services and the Executive Director for Sustainable City.

The Head of Financial Services and Head of Community Services have submitted a report to consider a loan guarantee to the Rugby Football Union in respect of a £100k loan to Oxford Harlequins Rugby Football Club.

Recommendations:That the City Executive Board resolves to:

Make a recommendation to Council to provide a loan guarantee to the Rugby Football Union in respect of a loan of up to £100k to Oxford Harlequins Rugby Football Club for funding improvements to changing room facilities at Horspath Athletic Grounds, on terms agreed in advance by both  the Council’s Head of Financial Services and the Executive Director for Sustainable City.

The Head of Financial Services and Head of Community Services had submitted a report to consider a loan guarantee to the Rugby Football Union in respect of a £100k loan to Oxford Harlequins Rugby Football Club.

Cllr Smith introduced the report. A visit to the Oxford Harlequins Rugby Club in the previous year had shown that  the facilities weren’t fit for the 21^st century; she was pleased that the improvements described in the report, made in partnership with others, would make a significant improvement to them. The timing of this additional meeting of the City Executive Board would enable the refurbishment of the club’s changing rooms to be complete by the beginning of the next rugby season.

The Head of Financial Services said that detailed discussion with the club about the terms of a loan guarantee were progressing. He was confident of reaching an agreement which could be acceptable to  both him and the Executive Director for the Sustainable City. On the basis of  progress to date he had no hesitation in commending the report’s recommendations to the Board.

In discussion it was noted that if, at some point, the club failed, the asset of the grounds and facilities would revert to the Council. It was also noted that support for the guarantee was considered appropriate because it was in relation to a council asset.

The City Executive Board resolved to:

Make a recommendation to Council to provide a loan guarantee to the Rugby Football Union in respect of a loan of up to £100k to Oxford Harlequins Rugby Football Club for funding improvements to changing room facilities at Horspath Athletic Grounds, on terms agreed in advance by both the Council’s Head of Financial Services and the Executive Director for Sustainable City.