Decision details

Having considered a confidential officer report and a presentation by the

Mayor, the Mayor and Cabinet, for the reasons set out in the report:

RESOLVED by 9 votes to nil that:

(1) the reasons for the additional loan to support CRPL effectively deliver their

commitments pending the advancement of the regeneration plans for Catford

Town Centre be noted;

(2) a repayment loan of up to a stated figure with the final payment due

in May 2048 at an interest rate of 4.3% from the Council to CRPL be

approved; and

(3) authority be delegated to the Executive Director for Resources and

Regeneration, in consultation with the Head of Law, authority to finalise the

arrangements by which CRPL will draw down the loan, consistent with their

business objectives agreed by Council.