Decision details
LAHF – Loan Interest Rate
Decision Maker: Executive Director - Resources
Decision status: Approved
Is Key decision?: No
Is subject to call in?: No
Purpose:
To agree to use of a fixed loan interest rate
in respect of LAHF loans to the Council’s housing company, in
order to simplify administration of loans across the properties
being acquired under the LAHF scheme. This requires an update to
the loan facility agreement by a legal side letter to reflect the
change from using varying PWLB interest rates for each property
purchase.
Decision:
To agree that the interest rate in respect of
each Tranche B Loan advanced in connection with the LAHF Programme
is fixed at 5%.
Alternative options considered:
Do nothing – this would lead to various
interest rates being charged for each loan making the
administration of the portfolio of loans more complex.
Publication date: 27/03/2024
Date of decision: 27/03/2024