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Councillor Dacres MOVED, Councillor Bell SECONDED, and it was
RESOLVED to:
 

·           
Note the current operating position of the company including
the latest cashflow projection and associated
assumptions.

·           
Agree that the Council, as sole shareholder of CRPL, continue
to provide additional financial support to the company through
parent company guarantee to enable it to continue to manage and
operate the assets within and around the Catford
Centre. 

·           
Agree a further deferment of loan interest payments and
capitalisation on the current loan for a further two years to 2026
to enable the company to stabilise its cashflow.

·           
Agree that as part of the wider Catford Town Centre
Regeneration plan, to agree the disposal of the former Thomas Lane
Depot site and delegate authority to the Executive Director of
Corporate Resources, in consultation with the Executive the
Director for Place, to agree final terms of the disposal. The
receipt from the disposal will be used to pay down part of the loan
with the Council and help stabilise the Company’s cashflow in
the short-term.

·           
Note that the outcome of an ongoing review of the Company
together with a new Business Plan detailing further efforts that
the company will be making to ensure it continues to operate the
centre in a manner that remains consistent with the outcomes agreed
at its inception will be reported to Mayor and Cabinet in due
course.