Issue - meetings

To receive a report from the Deputy Chief Executive (S151)

Cabinet received a report* which considered a long term loan arrangement to help facilitate the construction of a Pharmacy at the NHS Hub building in Crediton.

The following was discussed:

• The pharmacy supported a local community, but concern was raised of the commercial elements.
• Officer reassured Cabinet that there was no conflict of interest with this arrangement.
• Asked why this loan was repayable over 13 years, it was explained that this was the requested timeframe and was not an issue for the Council.
• It was raised that there were already three pharmacies within this area and would not want to see an independent pharmacy disappear, however it was noted that the public wanted an extra pharmacy. It was explained that this was a relocation of an existing pharmacy.

RESOLVED:

1.    To delegate approval to the Deputy Chief Executive (S151) of a loan to the GP Practice of £240k repayable over 13 years on an annuity basis at a commercial fixed interest rate, subject to the completion of legal due diligence and documentation.

(Proposed by the Leader)

Reason for Decision: Achieving a greater return on investments would enable additional service provision.

Note: *report previously circulated and attached to the minutes