Purpose

The Constitution authorities Officers to make
decisions with the scope of their responsibility unless it is
required to be made by a Portfolio Holder or Cabinet.
 
In line with this, the Chief Operating Officer
has made the decision to agree a £17m borrowing facility with
the UK Infrastructure Bank (UKIB) to finance the costs of projects
which fall into the Council’s net zero agenda.

Decision

The Chief Operating Officer has taken the
decision to formally agree a £17m borrowing facility with the
UK Infrastructure Bank, which can be drawn against over a
three year period, to finance the costs
of projects which fall into the Council’s net zero agenda,
these being:
-     
Net Zero Fund
-     
Decarbonisation Initiative Fund
-     
Renewable elements of AME Units, Olding Road redevelopment and Rougham Hill
redevelopment.