As Cabinet Member for Economic Development and Coastal Regeneration I agree to:
(a) AGREE to up to £6m from the Kent & Medway Business Loan Fund (KMBF) being made available for No Use Empty (NUE) to administer short term secured loans to support specific NUE Commercial projects which would provide wider economic and employment opportunities and benefits as well as generating income, through interest payments. The value of an individual loan under this proposal is likely to be more than the £600k cap on loans which are administered by the KMBF team; and
(b) DELEGATE to the Corporate Director of Growth, Environment and Transport in consultation with the Section 151 officer or the Cabinet Member responsible for Finance for approval to spend: and
(c) DELEGATE to the Corporate Director for Growth Environment and Transport to take appropriate actions, including but not limited to, entering into legal agreements (loan agreements and legal charges), consider and approve requests which may require consent and discharge of legal charges, as necessary to implement this decision as shown at Appendix A.