Decision details

RESOLVED:-

(i)        that the proposed loan funding of £570,000 over a 15 year period to the Barnsley Business and Innovation Centre (BBIC) as part of its match funding commitment to develop BBIC Phase 5, as detailed in the report now submitted, be approved;

(ii)       that funding be provided initially from the Council’s revised Reserve Strategy/Medium Term Financial Strategy, subject to the submission in due course of a report on this matter; and

(iii)      that approval be given to the provision of cash flow support during the construction and defect period (2019 to 2021) of up to £572,000 in any one year to accommodate European Regional Development Funds (ERDF) reclaim periods, this is be funded from BBIC repayments as the grant is recovered.