Decision details
Herefordshire Council continued support for the development of the new university - use of loan
PDF 129 KBDecision Maker: Director for economy, communities and corporate (Historic)
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
Purpose:
Revise the business justification of the loan
in line with the university's revised campus policy
Decision:
That:
(a) NMiTE be advised that they may use the £300k loan facility for the purposes of:
- Adaptations and fitting out of 6a St Peter Square and 1 b Offa Street;
- Investigations into potential development of Gaol Street car park;
- Teaching and living space review;
- Establishment of creative vision and masterplan; and
(b) otherwise the conditions relating to the drawdown remain unchanged and repayment of the £300k is required in accordance with the loan agreement
Alternative options considered:
1 The council could choose not to support the development of the university; this option is not recommended because of the economic and social benefits expected to accrue from the establishment of a university in the county as set out in the adopted economic vision.
Wards Affected: (All Wards);
Contact: Robert Ewing, Commissioning programme delivery manager Email: rewing@herefordshire.gov.uk Tel: 07792 881304.
Publication date: 26/01/2018
Date of decision: 26/01/2018
Effective from: 02/02/2018
Accompanying Documents: