Decision details
Edsential CIC - Letter Of Comfort
Decision Maker: Policy and Resources Committee
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Decision:
Resolved – That,
(1) the Director of Law and Governance be authorised, in consultation with the Director of Resources, to:
(a) provide a letter of comfort to Edsential that financial support will be provided to the company over the forthcoming period, in the form of Covid related funding support and/or a commercial loan, to be offered in conjunction with Cheshire West & Chester Council and subject to approval by this Committee; and
(b) consider such a request for assistance from Edsential to this Council, which shall only be granted subject to the approval of this Committee and which consideration should include assessment of the request (due diligence), revised business plan(s) and any conditions considered appropriate to be applied at the point of offer.
(2) the Director of Law and Governance be authorised, in consultation with the Director of Children’s Services, to appoint a replacement officer as a director of Edsential.
Publication date: 25/03/2021
Date of decision: 24/03/2021
Decided at meeting: 24/03/2021 - Policy and Resources Committee
Effective from: 31/03/2021
Accompanying Documents: