Decision details

Taken by the Chief Executive under Urgency Powers as decision taken that it was unsafe/unnecessary to hold a Full Council meeting during rise of Coronavirus cases (Omicron variant) in December 2021

Cabinet – 25th November

196 Kent Music School – Supporting Relocation to Ashford

Resolved that:
i. in principle loan funding for Kent Music be approved to purchase the new facility in Javelin Way, Ashford, up to a value of £1.4m, subject to the conditions outlined in the report and the heads of terms for a loan agreement set out in Appendix A to the report, and subject to the satisfactory completion of due diligence as outlined below.
ii. the Deputy Chief Executive be authorised, in consultation with the Chief Executive, the Solicitor to the Council and the Portfolio Holder for Finance & IT, to negotiate measures and take any other steps he considers prudent in the Council’s interests in order to enable the transaction to proceed as a sound investment, and to approve final due diligence reports and a final risk analysis schedule which are satisfactory in his view. (In the event that these matters are not satisfactory, the proposal be reported back for decision by Members).
iii. authority to finalise the terms of the loan and security be delegated to the Deputy Chief Executive in consultation with the Chief Executive, the Solicitor to the Council and the Portfolio Holder for Finance & IT.
iv. the Solicitor to the Council be authorised, in consultation with the Deputy Chief Executive, to negotiate and complete all necessary legal documentation including a loan agreement and a legal charge over the facility, to put the above decision into effect.

Option 1 - Hold Full Council meeting to make decision
Option 2 -
Option 3 -