Purpose

To consider the report regarding a request for
further investment at Chesterford Research Park.

Content

RESOLVED to:
 
I.              
approve a new loan facility of up to
£5,100,000 be made available to Aspire (CRP) Limited, for the
refurbishment of Building 900 at an interest rate of 6.25% on a
repayment basis, to be drawn down in tranches over a period of up
to 2 years with repayments commencing from 1 April 2027, subject to
Full Council agreeing to make funding available for this
purpose;
II.            
approve a new loan facility of up to
£2,500,000, be made available to Aspire (CRP) Limited, for
the completion of Building 800 at an interest rate of 6.25% on an
interest only basis, to be drawn down in tranches over a period of
up to 2 years with repayments commencing from 1 April 2026, subject
to Full Council agreeing to make funding available for this
purpose;
III.          
note the implications of making the loan on the
Council’s access to Public Works Loan Board, as set out in
paragraphs 24 to 26 of the following report.