The recommendations were amended and then agreed.

DECISION

1.    To note the need to refinance the Poplar baths PPP arrangement and the options available for refinancing.

2.    To note the proposed changes, to be reported to the Audit Committee, to the Council’s Treasury Management Strategy Statement necessary to enable debt finance to be provided to the Poplar Baths project.

3.    To delegate to the Corporate Director of Resources the power to agree the commercial terms under which the Council would be prepared to offer finance to the project.

Action by:

CORPORATE DIRECTOR, RESOURCES (N. MURTON)