Decision

The Corporate Director Resources in
consultation with the Leader, Deputy Leader (Executive Member for
Finance) and Chief Executive to approve loan facility draw down by
Brierley Homes of up to £975k at the usual commercial rate of
interest to ensure Brierley Homes has appropriate cashflow over the
short term in line with demonstration of need.

Reasons for the decision

Further loan draw down from the existing
facility of £975k is required in order to allow the company
time for sales to be received and therefore this loan draw down
will ensure Brierley Homes can make all payments due in the event
of some delayed sales.

Alternative options considered

There is an option not to approve an
additional loan draw down but this runs the risk of some payments
being unable to be made if there is any delay in sales income being
received and loan facility headroom is available following the
Executive decision on 16 September 2025 to approve an additional
commercial loan facility for Brierley Homes of £2m.