Purpose

Approve the grant of a longer loan
agreement of 20 years to Nene Valley Railway to allow them to fund
raise to continue to restore and then operationally use for the
residents and visitors of Peterborough to enjoy 

 

 

Decision

The Cabinet Member
approved: 

 

1.    
the grant of a loan agreement to
Nene Valley Railway Ltd.  for the period 2025-2045 for the loan of the
City of Peterborough locomotive, to allow Nene Valley Railway Ltd.
to raise funds to continue to restore and then operationally use
this asset for the residents and visitors of Peterborough to
enjoy;

 

2.    
Changes to the application of the
revenue from the locomotive; and 

 

3.    
A condition preventing the placing
of the locomotive with any other organization (e.g. a museum)
without the agreement of Nene Valley Railways
Ltd. 

 

The full report can be found at
the bottom of this page.