Decision details

Silverstone Heritage Loans (Decision to be taken)

Decision Maker: Leader

Decision status: Recommendations approved

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

Decision required regarding the revised terms of the repayment schedule due to impacts of Covid19

Decision:

Recommendations:   

 

That the negotiated terms of the repayment of the Council loans to Silverstone Heritage Limited are accepted:

 

Term of agreement 18 years (previously 7 years)

 

Interest:

 

5% from start of loan to 31st May 2020 (no change)

 

2.5% 1st June 2020 to 31st December 2022 (no change)

 

3.0% for January-December 2023, 2024 & 2025 (was 5%)

 

5.0% for January-December 2026-2040 (5% for the extended term)

Contact: Richard Ambrose Email: Richard.Ambrose@buckinghamshire.gov.uk.

Publication date: 09/06/2022

Date of decision: 17/06/2022

Accompanying Documents: