Decision details

RUTLAND AGRICULTURAL SOCIETY LOAN REQUEST

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: Yes

Decisions:

Report No. 8/2019 was received from the Strategic Director for Places.

 

Mr Gordon Brown, Portfolio Holder for Finance, introduced the report the purpose of which was to approve the loan of £70,000 to the Rutland Agricultural Society for the purpose of extending and improving the car park at the Rutland Showground.

 

During discussion the following points were noted:

 

·         The conditions of repayment had been delegated to the Director of Resources and the Portfolio Holder.

·         The Rutland Agricultural Society had received an earlier loan of £75,000 funded from Section 106 monies and this had been repaid in full.

·         Members were fully supportive of this type of loan as an appropriate way of using funds.

 

 

DECISIONS:

 

Cabinet:

 

1.    APPROVED the proposed loan and associated conditions to the charitable organisation the Rutland Agricultural Society.

 

2.    RECOMMENDED to Full Council that the loan be approved.

 

 

Reasons for the decisions

 

The provision of the requested loan will enable the Rutland Agricultural society to make improvements to its site, which will benefit significant numbers of residents and visitors to the County. The terms of the loan will ensure the Council is not left out of pocket once the repayment is received.

Publication date: 02/04/2019

Date of decision: 15/01/2019

Decided at meeting: 15/01/2019 - Cabinet

Effective from: 23/01/2019

Accompanying Documents: