Content

AGREED: that Cardiff Council
offers a town centre loan to Iungo
Propco Ltd of £770,000 towards the purchase and redevelopment
costs associated with 33-35 West Bute Street, Butetown, subject to pre-conditions set out in the
due diligence report at Appendix 1 being satisfied and completion
of legal agreement.
 

Reasons for the decision

The reason for the recommended
decision is the creation of new job opportunities through the
formation of new businesses, the growth and development of
indigenous businesses and the attraction of inward investment is a
key priority of the County Council’s Economic Development
Plan. One of the ways this has been achieved is through provision
of financial assistance to new start and existing businesses
located within Cardiff.