Decision details

Cabinet:

1. Authorised the Chief Finance Officer (S.151 Officer), in consultation with the Cabinet Member for Finance, Governance and Performance to agree the terms of the previously approved prudential funding, to the SPV, via onward lending loan agreement, up to a maximum of £12.7m;
2. Noted the updates provided in this Cabinet report in relation to a single SPV, change in funding ratios (with no change to total capital cost or BCC loan value) and proposed onward grant agreement from the Council to the SPV (£10.2m);
3. Approved the early draw down of up to £0.24m (funded from already approved PL19 funds) for early heat network work on Bedminster and Temple (to include match funding against the HNDU grant and a bore hole survey);
4. Authorised the Executive Director for Growth and Regeneration, in consultation with the Cabinet Member for Energy, the Cabinet Member for Finance, and the Chief Finance Officer, to apply for and accept HNDU government grant funding of up to £0.35m from the Department of Business, Energy & Industrial Strategy to facilitate the development of the Bedminster and Temple heat networks.