Decision details
MARCHES INVESTMENT FUND ALLOCATIONS
Decision Maker: Marches Enterprise Joint Committee
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Purpose:
To allocate Marches investment funding against a loan application received by the Marches local enterprise partnership (LEP). |
Decision:
THAT: |
(a) a loan of £720,000 ( 5.04% interest rate) to Dicentra LLP be approved
Reasons for the decision:
To enable allocation of funding in accordance with the agreed scheme.
Alternative options considered:
It is open to the committee to reject the loan request or offer an alternative loan sum. This is not recommended as a lower loan sum would not secure the economic benefits anticipated, and the application has been through a robust and independently assessed appraisal process.
Reason Key: Expenditure and strategic nature / impact on communities;
Publication date: 15/02/2016
Date of decision: 15/02/2016
Effective from: 19/02/2016