Decision details

Referral from Children, Young People and Education Committee - Children's Residential Transformation Programme

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 issue of a commercial loan facility to We Are Juno CIC, in terms approved by the Director of Resources, in consultation with the Director of Law and Governance, as set out in section 5 of the report, in the sum of up to £1,000,000, be approved;

 

(2)  the Director of Resources be authorised, in consultation with the Director of Law and Governance, to:

 

(a) settle and perfect such security for the performance of the borrower’s obligations under the commercial loan facility as is offered by We Are Juno CIC to the Council; and

 

(b) agree such minor variations in the terms of the commercial loan facility as are necessary to reflect any changes in circumstances arising during the term of any loan agreed, including any security pursuant to recommendation 2(a) above.

 

Publication date: 11/10/2021

Date of decision: 07/10/2021

Decided at meeting: 07/10/2021 - Policy and Resources Committee

Effective from: 15/10/2021

Accompanying Documents: