To increase the annual repayment for borrowing by £38k, funded via the Skills and Learning service’s revenue budget, to secure additional PWLB borrowing of £356k based on a current 10-year PWLB rate of 1.67% (after 0.2% certainty rate reduction), to fund the capital works required to convert 6 retail units into an adult education centre.
The decision has been taken by the Corporate Director under delegated authority.