№ files_lp_4_process_3_080796
Council finance report outlining the process, requirements, and repayment models for a proposed £250,000 Public Works Loan Board loan to fund construction of a parish Parks & Open Spaces Maintenance Facility.
Year: 2021
Date: 26 October 2021
Meeting: Full Council
Agenda Reference: 11
Report Title: Public Works Loan Board (PWLB)
Author: Emma Till
Author Position: Finance & Administration Manager / Deputy RFO
Organisation: Parish Council
Subject: Public Works Loan Board borrowing for construction of a Parks & Open Spaces Maintenance Facility
Loan Amount Considered: £250,000
Loan Provider: UK Public Works Loan Board (PWLB)
Supervising Authority: Ministry of Housing, Communities and Local Government (MHCLG)
Application Form: Form LC1 (UK Debt Management Office)
Repayment Structures: Annuity; Equal Instalments of Principal (EIP)
Repayment Frequency: Half-yearly
Loan Terms Considered: 10 years; 15 years; 25 years
Consultation Requirement: Evidence of consultation with local residents
Alternative Financing Options: High Street bank loans; Funding Circle
Purpose of Borrowing: Construction of a permanent Parks & Open Spaces Maintenance Facility
Price: 8 / 10 USD
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