Purpose

To seek agreement
to extend the date by which the loan facility between Bracewell
Homes and North Yorkshire Council, originally granted on
15/04/2021, should be repaid to the 31 March 2036.
To note there are no other proposed changes to the loan – the
value and interest rate to remain as previously approved.
The report providing further information on this decision is
included in the agenda pack for the item on the Performance
Monitoring and Budget Report which will be considered by Executive
at their meeting on 17th February 2026.
This decision was
included in the Forward Plan entry for the Performance Monitoring
and Budget Report that is going to Executive on 17th February
2026.  For the purposes of openness and
transparency this decision is being included as a separate entry on
the Forward Plan but not subject to urgency.
 

Decision

To approve the extension to the term for the
existing Bracewell Homes loan to 31 March 2036.

Reasons for the decision

The existing five-year loan agreement between
the Council and Bracewell Homes dated April 2021 was due to expire
on 31 March 2026. The Housing service sought to extend this
agreement in order to widen the delivery of shared ownership
opportunities across the county.

Alternative options considered

n/a