To approve in principle the advance of funds
to Greensand Holdings Limited
Decision type: Key
Reason Key: Expenditure > £250,000;
Decision status: Recommendations Approved
Wards affected: (All Wards);
Notice of proposed decision first published: 17/09/2019
This decision will be taken under urgency procedures.
Reason for urgency:
The business opportunity that is now available to Greensand Holdings Limited for which the loan is required was not known about 5 clear days in advance of the meeting. This part exempt item is therefore published in line with the Special Urgency provisions detailed in the Council’s Constitution. The time sensitive nature of the business opportunity means that the decision cannot reasonably be deferred. As set out in Procedure Rule 3.5.8 of the Constitution, the Chair of the Overview and Scrutiny Committee has been consulted in the preparation of this report and has agreed that a decision can be taken at the meeting.
Anticipated restriction: Part exempt - View reasons
Explanation of anticipated restriction:
RECOMMENDED that members of the Press and public be excluded from the meeting for the following item of business under Section 100A(4) of the Local Government Act 1972 on the grounds that:
(i) it involves the likely disclosure of exempt information as defined in paragraph 3 of Part 1 of Schedule 12A of the Act; and
(ii) the public interest in maintaining the exemption outweighs the public interest in disclosing the information.
Decision due: 19 Sep 2019 by Executive
Lead member: Portfolio Holder for Commercial and Community Assets
Lead director: Head of Legal and Governance
Contact: Caroline Waterworth, Commercial and Investment Director Email: Caroline.Waterworth@reigate-banstead.gov.uk Tel: 01737 276025.