Horton 45, Telford TF7FA/Hortonwood 45 Ltd/ Telford & Wrekin
Presented By: Nick Oakley
Decision:
1. The powers and ability of the WMCA to make the proposed loan be noted;
2. The comments made by Investment Panel when the proposal was presented be noted;
3. The loan investment from the Commercial Investment Fund for the sum specified in the report to the ‘Company’, for a term of 2 years under the Commercial Investment Fund/Residential Investment Fund as per the terms conditions set out in the report be approved and
4. The negotiation and approval of the final terms of the loan be delegated to the Director of Commercial and Investment, in consultation with the S.151 Officer and Monitoring Officer.
Minutes:
The board considered a report of the Director of Commercial and Investment that sought approval of loan funding from the Commercial Investment Fund (CIF) for the sum specified in the report to the ‘Company,’ for 2 years, for the development and construction of industrial space at a key employment location in the Hortonwood industrial area of Telford.
Nick Oakley (West Midlands Development Capital) outlined the key aspects of the investment proposal detailed in the report.
Resolved that:
1. The powers and ability of the WMCA to make the proposed loan be noted;
2. The comments made by Investment Panel when the proposal was presented be noted;
3. The loan investment from the Commercial Investment Fund for the sum specified in the report to the ‘Company’, for a term of 2 years under the Commercial Investment Fund/Residential Investment Fund as per the terms conditions set out in the report be approved and
4. The negotiation and approval of the final terms of the loan be delegated to the Director of Commercial and Investment, in consultation with the S.151 Officer and Monitoring Officer.