A contract was awarded to Provide CIC on 18 July 2024, (Key decision reference: 0324ASCH) to deliver community equipment and partnering services through a Mutual.
Decision 2.5 of that report included the following to:
· “note the establishment of the Mutual and that, as part of the transaction, (and subject to further internal governance approvals being obtained as applicable) … a loan facility of £1.9m will be granted.”
This report will seek the approval required to enable the Council to grant the loan.
Decision type: Key
Reason Key: Expenditure > £1,000,000;
Decision status: Recommendations Approved
Wards affected: (All Wards);
Notice of proposed decision first published: 16/08/2024
Decision due: Not before 16th Sep 2024 by Executive Mayor
Lead member: Cabinet Member for Health and Adult Social Care
Lead director: Corporate Director of Resources (Section 151)
Department: Resources Directorate
Contact: Nigel Kletz, Commercial and Contract Improvement Advisor Email: nigel.kletz@croydon.gov.uk Email: Nigel.Kletz@croydon.gov.uk.