Decision details
Investment Opportunity 11
PDF 250 KBDecision Maker: Leader of the Council
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
Purpose:
To consider a potential investment
Decision:
To endorse the conclusions of the Investment Board and that
a. The purchase of Investment Opportunity 11 at Chorley is agreed up to the sum of £60,000,000
b. The funding ratio is on an 80% interest only and 20% repayment basis.
c. The purchase costs are capitalised.
d. The purchase is made as a direct investment by Uttlesford District Council.
e. The Director of Finance and Corporate Services in consultation with the Leader, Portfolio Holder for Investments and Business, and the Portfolio Holder for Finance and Budget to conclude the acquisition; subject to recommendation f.
f. Council is requested to endorse the purchase and to authorise the necessary borrowing.
Reasons for the decision:
On 18 August 2020 the Investment Board met to consider a potential investment opportunity at Chorley.
The Investment Board concluded that the Council should acquire the asset and add it to the existing portfolio.
Urgent item?: Yes
Publication date: 19/08/2020
Date of decision: 19/08/2020
Accompanying Documents:
- Investment Opportunity 11