Issue - decisions

The Leader AGREED:

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)

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)