Content

 
RESOLVED:   That the contents of the report setting
out (i) the advice of Grant Thornton, PS Tax, Link Group Treasury
Services and Ensor Accountants relating to the structure options
for financial support to WNPL and WNHC (the Companies), and (ii)
the Council’s current analysis as regards the best options be
noted;
 
2)            
That a Drawdown
facility be offered to the Companies (comprising a mix of loan
facilities and repayable grant agreements, and which may include
debt-equity arrangements and/or the extension of current lease
arrangements), with an overall lending cap of £50
million;
 
3)            
That delegated
authority be given to the Executive Director (Place), in
consultation with the Portfolio Holder for Business, the Share
Holder Committee, the Section 151 Officer and the Monitoring
Officer, to agree the final terms of the Drawdown facility with the
Companies.
 
RECOMMENDED:      4)         
That delegated authority be granted to the Section
151 Officer in consultation with the Portfolio Holder for Business
to amend the Capital Strategy for 2023-2024 to reflect the approved
Drawdown facility to the Companies.
 
 
Reason for Decision
1.    
To deliver on Council Corporate
Objectives:  
·      
Promote growth and prosperity to benefit West
Norfolk;
·      
Protect our environment;
·      
Efficient and effective delivery of our services;
and,
·      
Support our communities.
To deliver affordable and
private rented housing for acquisition by the council’s
wholly owned housing companies to support the delivery of council
corporate objectives