Decision Maker: Executive
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Exempt report
The Assistant Director Finance submitted an exempt report which proposed a restructure of the financing of the council’s subsidiary Crown House Banbury Limited and proposes adjusting the interest rate of the loan to ensure that the company can continue to meet its liabilities as they fall due, minimising the likelihood of a significant financial impact to the council.
Resolved
(1) As set out in the exempt Minutes.
(2) As set out in the exempt Minutes.
Reasons
As set out in the exempt Minutes.
Alternative options
As set out in the exempt Minutes.
Reason Key: Significant Expenditure or Savings;
Reason No Public Access: Yes - by virtue of paragraph 3 of schedule 12A of Local Government Act 1972
Declarations: None
Subject to Urgent Proceedings: No
Contact: Joanne Kaye, Head of Finance and Deputy Section 151 Officer Email: joanne.kaye@cherwell-dc.gov.uk Tel: 01295 221545, Alex Rycroft, Strategic Finance Business Partner Email: alex.rycroft@cherwell-dc.gov.uk.
Report author: Joanne Kaye
Publication date: 08/10/2024
Date of decision: 07/10/2024
Decided at meeting: 07/10/2024 - Executive
Effective from: 15/10/2024