By Minute 33 (viii) (20 October 2020), the Cabinet approved a development loan of £44m on market terms for a joint residential-led development at London Road / North Street, Barking. In light of the recent significant increase in building cost inflation, the Cabinet will be asked to approve an increase of circa £8m to the loan to the developer, based on the same terms.
Decision type: Key
Decision status: Approved
Wards affected: Abbey;
Notice of proposed decision first published: 22/08/2022
Anticipated restriction: Part exempt - View reasons
Explanation of anticipated restriction:
The report and/or appendices may contain commercially confidential information
Issue Category: Financial;
Decision due: 18 Oct 2022 by Cabinet
Lead member: Finance, Growth & Core Services Portfolio, Regeneration & Economic Development Portfolio
Lead director: Strategic Director, Inclusive Growth
Department: Inclusive Growth
Contact: David Harley, Interim Development Director, Be First Tel: 020 8227 5316.