Decision details
Seahorse Homes Limited - Shareholder Representative Report and Loan Facility
Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
Purpose:
The Shareholder Representative presents a report on the past and future affairs of Seahorse Homes Limited.
On the 27th July 2020, the Board of Seahorse Homes Limited agreed that its principal purpose going forward will be to acquire residential properties to let at market rent and, where appropriate, for market sale. It has identified several upcoming opportunities.
To enable Seahorse Homes Limited to operate and develop its infrastructure whilst it is not generating income it will need additional working capital.
Decision:
The Pre-Decision Scrutiny Questions and officer responses were noted.
DECISION
1. To agree to authorise the Divisional Director, Finance, Procurement and Audit to increase the credit facility of Seahorse Homes Limited up to £150,000 and agree the corresponding repayment terms.
Action by:
CORPORATE DIRECTOR, PLACE (A. SUTCLIFFE)
(National Management Trainee (N. Klinger)
Report author: Ann Sutcliffe
Publication date: 25/09/2020
Date of decision: 23/09/2020
Decided at meeting: 23/09/2020 - Cabinet
Effective from: 03/10/2020
Accompanying Documents:
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