Decision details

The Cabinet had before it a report * from the Deputy Chief Executive (S151) to consider an additional long-term loan to the Redlands Primary Care in Crediton. 

RESOLVED that:

1. Delegated authority be granted to the Deputy Chief Executive (S151) to top-up c£70k of the original loan taking the outstanding balance back to the original £2.175m.
2. An additional loan to the GP Practice of £150k be APPROVED.
3. Both loans are repaid by June 2048 on an annuity basis at a commercially fixed interest rate, subject to the completion of legal due diligence and documentation be APPROVED.

Note: *Report previously circulated