Meeting documents

WDC Decisions Made - Community & Leisure
Monday, 3rd July, 2006

Decisions Made - Community & Leisure 2006/07, Sch 11 No 14 - 03 Jul 2006 - Application for a Development Loan - Flackwell Heath Community Centre

 

Reference Number
Schedule 11 – 14/2006

WYCOMBE DISTRICT COUNCIL

 
 

Decision Taken by a Cabinet Member

Cllr D J Carroll

Portfolio:  
Community and Leisure

 

The Member has taken the following decision.

The decision will take effect on Tuesday 11 July 2006

Title

Application for a Development Loan – Flackwell Heath Community Centre

Decision Taken

To offer an unsecured loan of £15,000 repayable over three years, subject to the Council’s current investment – linked interest rate (estimated at 5.00%), reviewed annually.  The loan will be wholly financed from the Revenue Budget’s Community Assistance Fund which exists to assist management committees of village halls and community centres to undertake necessary works at their premises.

Date of Publication

Monday 3 July 2006

Reasons for Decision

The Community Association has requested a loan of £25,000 repayable over 5 years as a financial cushion due to depletion of reserves following its contribution towards the cost of improvement works estimated at £74,000 at the Centre.  The loan requested is the maximum that would normally be approved within Policy.  The Association has recently been awarded a grant of £10,000 towards this project, therefore a reduced loan and repayment term is to be offered limiting the total funding support from this Council to £25,000.

Consultation Undertaken

The Council’s Chief Finance Officer has advised on the terms of any possible loan and scrutinised the Association’s latest audited accounts.
 

Your Questions and Views   If you have any views on this decision that you would like the Member to consider or if you wish to object to the decision taken, please inform Howard Taylor.  This can be done by telephone (01494) 421875 or e-mail howard_taylor@wycombe.gov.uk.