Purpose

To seek approval to close down the Salix
energy efficiency recycling fund and set up a BCC recycling fund to
replace it.
 
Note: This item is subject to availability of
capital funding.

Content

The Committee RESOLVED
to
 

1.     
Approve the close down of the Salix recycling fund,
including the return of £900K of Salix Finance Ltd loan
funds, in line with direction given by Salix as the scheme
administrator

 

2.     
Approve the establishment of a replacement in-house
revolving energy efficiency fund, seed funded as outlined in this
report
 

3.     
Delegate authority to the Executive Director, Growth
and Regeneration in consultation with Director of Finance and Chair
of the Environment and Sustainability Committee to finalise the
capital investment profile for further funding of the revolving
energy efficiency fund through investment of capital reserves, up
to a maximum of £900,000 over a 5
year period.
 

4.     
Approve the widening of the scope of the replacement
revolving fund to include all utilities (electricity, gas, heat,
water) and all efficiency technologies, subject to minimum payback
and carbon saving criteria.