Release of Loan to Rykneld Homes Limited
Report of Councillor P R Kerry, Deputy Leader of the Council and Portfolio Holder for Strategic Leadership and Finance.
(Paragraph 3)
Additional documents:
Decision:
RESOLVED that the release of the remaining loan of £0.4m to Rykneld Homes be approved.
REASONS FOR DECISION
Release of the remaining loan would allow Rykneld Homes Limited to carry out the required investment in their assets, improving the homes for tenants who live at Hallowes Court.
OTHER OPTIONS CONSIDERED AND REJECTED
To not release the loan. This was not recommended as the works needed to be carried out to maintain building safety consumer standards.
This is a Key Decision. The last day to submit a call-in request is Thursday 22 May 2025.
Minutes:
Cabinet considered a report which sought approval for the release of the remainder of the approved loan (£0.4m) to Rykneld Homes Ltd for refurbishment works at Hallowes Court, Dronfield.
RESOLVED that the release of the remaining loan of £0.4m to Rykneld Homes be approved.
REASONS FOR DECISION
Release of the remaining loan would allow Rykneld Homes Limited to carry out the required investment in their assets, improving the homes for tenants who live at Hallowes Court.
OTHER OPTIONS CONSIDERED AND REJECTED
To not release the loan. This was not recommended as the works needed to be carried out to maintain building safety consumer standards.