Loan Facility for North Music Trust
Report of the Strategic Director, Economy, Innovation and Growth
Minutes:
Consideration has been given to enteringinto a loanfacility with North Music Trust (NMT)to supportthe installation of a new fire alarm system. |
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RESOLVED - |
(i) |
That the provisionof a loanfacility of the amount set out in the report to North Music Trust be approved. |
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(ii) |
That the Strategic Director,Resources and Digital be authorised to finalise the loan agreement termswith North Music Trust. |
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The above decisions have been made for the following reasons: |
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(A) |
To maintain the use by the public of a cultural facility for the Borough. |
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(B) |
Tosupport theuse of the facility as part of the delivery of the Gateshead Quays Conferences and maintain income in line with the business plan. |