Content

RESOLVED: That the Cabinet
Sub-Committee (Local Authority Trading Companies Shareholder):

 

(1)  
Approved the updated financial projections of the business case and
commence trading of Broadwater Hundred Property Management Limited
and Broadwater Hundred Limited.
 

(2)  
Delegated authority to the Service Director – Resources (as
Client Lead Officer for the Company), in consultation with the
Chair of this Committee to:
 

·      
Agree a loan and a loan amount that will be loaned to either
Broadwater Hundred Ltd or Broadwater Hundred Property Management
Limited by the Council.

·      
If required, agree an onward loan to Broadwater Hundred Property
Management Limited.

·      
Agree that the loans will be governed through a loan agreement,
which may give flexibility to each Company to draw-down funds as
they are required.
 
REASON FOR
DECISIONS: To enable the Council companies to trade and
provide more commercial opportunities which will benefit the
Council.