Cabinet resolved to note the action taken by the Chief Executive, in accordance with the Urgent Action procedures set out in Part 2, Chapter 16, paragraph 4 and the Special Urgency provision under Part 2, Chapter 17, paragraph 15 of the Council Constitution, in relation to approving a loan of £200,000 and a grant of £156,000, via the Strategic Community Infrastructure Fund levy, to Studio 3 Arts towards the redevelopment of the former Galleon Community Centre, Boundary Road, Barking, into a world class arts centre.