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