198 Contemporary Arts and Learning Site Redevelopment Match Funding
Decision Maker: Strategic Director: Sustainable Growth and Opportunity
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: No
1. To approve the release of £250,000 from the South London Innovation Corridor programme capital workspace budget to the 198 CAL redevelopment project grant linked to the delivery of a range of agreed outputs and social outcomes.
2. To approve a maximum loan facility of up to £81,000 that can be drawn down by the organisation if required, this would be subject to 5.5% interest over a 5-year term, with the whole site being taken as security.
3. To delegate authority to the Strategic Director of Sustainable Growth & Opportunity and Director of Legal Services and the Director of Financial Services to oversee the grant and loan agreements and related terms and conditions of funding.
Publication date: 14/08/2019
Date of decision: 22/08/2019