Decision details

Loan to the Sunlight Development Trust

Decision Maker: Cabinet

Decision status: Decision made

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

This report sets out a proposal to lend £50,000 to the Sunlight Development Trust over five years, interest free, to assist them in achiveing their business objectives.

Decision:

86/2007 The Cabinet agreed that the Council makes a loan of £50,000 to the Sunlight Development Trust to assist them in achieving their business objectives.
87/2007 The Cabinet agreed that the loan be unsecured, at no interest, repayable over 5 years in equal instalments.

Reasons for the decision:

A loan to the Sunlight Development Trust would enable them to solve their current funding difficulties and enable them to continue and develop their current operations.

Publication date: 03/04/2007

Date of decision: 03/04/2007

Decided at meeting: 03/04/2007 - Cabinet

Effective from: 12/04/2007

Accompanying Documents: