To approve a loan from school balances of £45,000 to Goodrich Church of England (VC) Primary School for a cabin style building to facilitate a new nursery provision in accordance with the council’s scheme for financing schools.  The school loan scheme provides a valuable way of enhancing school buildings without using the council’s limited capital budgets.

That:

(a)       A capital loan of £45,000 to Goodrich Church of England (VC) Primary School be approved at 0% interest, repayable from April 2021 at one annual instalment of £6,428.58 followed by six annual instalments of £6,428.57 for a new permanent nursery building.

1.         The alternative option is not to grant the loan as requested and in which case the additional facilities at the school will not proceed.