The Cabinet resolved to:
(i) Note the budget gap between 2018/19 to 2020/21 which increased from £22.167m, as reported in February 2017, to £23.003m at July 2017;
(ii) Note the budget gap of £15.79m for 2018/19 the process for closing that gap, as outlined in section 8 of the report;
(iii) Delegate authority to the Strategic Director of Growth and Homes, in consultation with the Cabinet Member for Finance, Growth and Investment, the Chief Operating Officer and the Director of Law and Governance, to commence the purchasing of street properties which would form part of the Council’s overall Investment Strategy, as outlined in section 5 of the report;
(iv) Approve additional capital spend on the Council’s leisure services of £1,694,075; as outlined in section 6 of the report;
(v) Approve a loan of up to £3,394,075 to Sports and Leisure Management Ltd, who have been appointed to manage the Borough's leisure centres and athletics stadium, including Becontree Heath Leisure Centre, in accordance with the loan schedule at Appendix C to the report; and
(vi) Delegate authority to the Chief Operating Officer, in consultation with the Cabinet Member for Finance, Growth and Investment, to agree contractual terms, including the rate, duration and security as part of the loan agreement with Sports and Leisure Management Ltd.