Content

Appendix 1 of this report is not for publication as
it contains exempt information of the description in paragraph 14
of Part 4 and paragraph 21 of part 5 of Schedule 12A of the Local
Government Act 1972.
 
AGREED: that Cardiff Council offer a town centre loan to PropertyIndex Capital Ltd of £976,500 towards
the purchase and redevelopment costs associated with Custom House,
Bute Street, 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.