Issue - meetings

Business case for the creation of an Energy Loan Fund

Meeting: 14/02/2018 - Weekly Bulletin (Item 7.)

Business case for the creation of an Energy Loan Fund

Cabinet endorsed the business case for the creation of a Green Energy Loan Fund and approved further work to establish and launch the fund by mid-July 2018.

 

Please note that this decision was first published on Monday 12 February and so the deadline for call-in is Monday 19 February at 5pm. If not called-in this decision can be implemented on Tuesday 20 February.


Meeting: 07/02/2018 - Cabinet (Item 6)

6 Business case for the creation of a Green Energy Loan Fund pdf icon PDF 201 KB

Additional documents:

Decision:

 

Cabinet endorsed the business case for the creation of a Green Energy Loan Fund and approved further work to establish and launch the fund by mid-July 2018.

 

Minutes:

Cabinet received the report of the Executive Director, Corporate Services, which presented a Business Case for the creation of a Green Energy Loan Fund and sought approval for further work to establish and launch the fund by mid-July 2018.

 

In response to questions, the Finance and Staffing Portfolio Holder:-

 

·         Explained why it was necessary for the Council to employ an intermediary body to administer the loan scheme, noting that it would otherwise be necessary for the Council to be registered with the Financial Services Authority to provide loans.

·         Advised that there would be a formal procurement process to select the intermediary.

·         Confirmed the intention to keep the process as simple as possible, whilst still completing all necessary due diligence.

·         Advised that parish councils would not be able to mix and match the grants and loan schemes.

 

Cabinet members spoke positively in support of the scheme and hoped it would replicate the success of the Community grants scheme.

 

Cabinet AGREED to endorse the business case for the creation of a Green Energy Loan Fund and approved further work to establish and launch the fund by mid-July 2018.