Issue - meetings

Cabinet

(a)          Recognised the issues identified, and approved the measures taken to address them, including matters to be included in legal documents prior to drawdown of the loan; and

(b)          Confirmed approval for the loan, and authorises the Executive Director, in consultation with the Finance and Staffing Portfolio Holder, to approve the loan agreement and drawdowns subject to satisfactory completion of all outstanding matters.

This decision was first published on Friday 14 July and so the deadline for call-in is 5pm on Friday 21 July. If not called-in this decision can be implemented on Monday 24 July.

Cabinet

(a)             Recognised the issues identified, and approved the measures taken to address them, including matters to be included in legal documents prior to drawdown of the loan; and

(b)             Confirmed approval for the loan, and authorises the Executive Director, in consultation with the Finance and Staffing Portfolio Holder, to approve the loan agreement and drawdowns subject to satisfactory completion of all outstanding matters.

Councillor Simon Edwards (Finance and Staffing Portfolio Holder) introduced a report containing information that would help Cabinet ireach a final decision relating to South Cambridgeshire District Council (SCDC) providing a loan to Cambridge Leisure and Ice Centre (CLIC) to support the development of an ice rink on the outskirts of Cambridge.

Restricted information made available to the Cabinet set out key factors to be considered, and the options available.

After years of SCDC having been unable to fund similar projects to anything like this extent, Councillor Edwards commended the ice rink project as exciting and positive.

Councillor Robert Turner (Planning Portfolio Holder) endorsed the project’s benefits to residents.

In response to concern raised by Councillor Anna Bradnam that the U.K.’s decision to leave the European Union might result in negative financial consequences, the Head of Finance said that the respective parties involved in the project had already made allowances for this in making their calculations.

Cabinet

(a)            Recognised the issues identified, and approved the measures taken to address them, including matters to be included in legal documents prior to drawdown of the loan; and

(b)            Confirmed approval for the loan, and authorises the Executive Director, in consultation with the Finance and Staffing Portfolio Holder, to approve the loan agreement and drawdowns subject to satisfactory completion of all outstanding matters.