Issue - meetings

Fitted Rigging House - Addition to the Capital Programme

 

 

Meeting: 10/04/2018 - Cabinet (Item 9)

9 Fitted Rigging House - Addition to the Capital Programme pdf icon PDF 96 KB

Minutes:

Background:

 

This report provided details of the Growing Places Fund (GPF) bid for a loan of £800,000 to bring the Fitted Rigging House at Chatham Historic Dockyard into full use. The report stated that the total cost of the project to the Chatham Historic Dockyard was £8,400,000. It was noted that £7,600,000 had already been secured by the Dockyard and the remainder, £800,000, was sought from the South East Local Enterprise Partnership (SELEP).

 

The report explained that the SELEP would only enter into funding/loan agreement with a Local Authority. In consequence, the Council would need to enter into a loan agreement with the SELEP on behalf of Chatham Historic Dockyard and also enter into a legally binding back to back loan agreement with the Dockyard for the repayments and to give the Council protection.

 

The report advised that the SELEP would make a decision to award the GPF funding/loan on 27 April 2018 and if approved would require Full Council approval to be added to the Capital Programme.

 

Decision number:

Decision:

59/2018

The Cabinet agreed to recommend to Full Council on 26 April 2018 the addition of this project, as set out in section 2 of the report, to the Capital Programme, subject to approval from the South East Local Enterprise Partnership (SELEP) for the funding.

 

Reasons:

 

Additions to the Capital Programme are a matter for Full Council.