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To approve:

Subject to a legal agreement with Delapre Abbey Preservation Trust
to reflect the finan-cial arrangement outlined below:

(1) To underwrite up to £500,000, towards the costs of the
proposed stable restoration project on the expectation that the
funding gap will be met through other sources. This funding would
only be drawn down if alternative finance did not materialise but
DAPT have indicated they are confident they can meet the full cost
of the project without the need to draw this funding If required
the funding would be set up as a commercial loan to the
Trust.

(2)Additionally approve a request from DAPT to provide a
£500K facility to assist with cashflow during the
construction phase of the project. This will facilitate project
delivery. This will only be available for drawdown if there are
insufficient funds available in the wider DAPT operations. The
Council would be the cash flow provider of last resort.