Issue - decisions
Amendments to Loan Facilities Agreements for Aequus Construction Ltd and Aequus Developments Ltd
14/06/2019 - Amendments to Loan Facilities Agreements for Aequus Construction Ltd and Aequus Developments Ltd
That in respect of the Facilities
Agreement between ACL, ADL and the Council, to
(i) Approve that the Tranche A loan availability period is extended
from 15 June 2019 to 31 March 2025.
(ii) Approve that the Tranche B loan availability period is
extended from 31 March 2020 to 31 March 2025.
(iii) Approve amendment to the authorised use of Tranche A loans to
include “refurbishment works for the provision of
housing” and to allow the conversion of Tranche A loans to
Tranche B loans where they relate to such refurbishment
works.
That in respect of the Development Facility Agreement between ACL,
ADL and the Council, to
(iv) Approve and increase in the “Total Commitments” to
£33.2 million from £20 million in line with the
Council’s approved capital programme budget for Property
Company Investment.
and that in respect of the approved loan in respect of the
Riverside Development, to
(v) Approve the increase in the maximum loan drawdown from
£9.3 million to £12 million in line with the updated
business case cashflow requirements.