Issue - meetings

To consider the report of the Director of Resources, (copy enclosed).

The Council considered the report of the Director of Resources seeking consideration of a request to convert an outstanding loan into a grant.

The report provided detailed information of the loan agreement, installment schedule and request from the related company to convert £30,000 of the loan into a grant.  It was noted that this matter had come before the Council in December 2020 where it had been agreed to defer consideration pending further financial information.  Key issues were highlighted in the report, detailed financial information including business plans were attached in Appendices 1 – 3 and a number of options for consideration by the Council were set out.

The Leader of the Council presented the report and proposed that the recommendation be agreed.  This was duly seconded and agreed by assent.

RESOLVED that the terms of the current loan agreement with the company detailed in the report remain unchanged.