Decision - Loans to Mercury Land Holdings Limited Company 09878652 (The Company) for the development of Quarles campus and development at Roneo Corner

Decision details

Loans to Mercury Land Holdings Limited Company 09878652 (The Company) for the development of Quarles campus and development at Roneo Corner

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

To seek the agreement of  the Leader of the Council in consultation with the Director of Legal and Governance and the s151 Officer, as delegated under the September 2019 Cabinet decision, to approve that prt of the Business Plan relating to a state aid compliant and provision of equity to the Company to develop 120 units at Quarles Campus, Harold Hill and further to this, to acquire a further 20 units (within the 120 units) for its PRS portfolio, subject to the appropriate due diligence for such a loan and injection of equity being carried out.

Publication date: 08/10/2021

Date of decision: 08/10/2021

Effective from: 14/10/2021

Accompanying Documents: