That:

(a)       Approval be given to grant a loan of up to £0.611m to the Courtyard Centre of the Arts to carry out a programme of building works, the funding to be sourced by the council through Public Works Loan Board borrowing and;

(b)  The loan be repaid in full by the Courtyard at a commercial interest rate over a period of 50 years with a repayment holiday of up to 3 years and the interest for those 3 years deferred to the 50 year repayment plan.