Cabinet resolved to:
(i) Approve the updated Investment and Acquisition Strategy set out at Appendix 1 to the report;
(ii) Note that the IAS and Borrowing Outturn 2019/20 showed a £0.6m underspend for 2019/20;
(iii) Note the progress being made in meeting the IAS income target and the impact on the IAS of the delays to schemes being completed;
(iv) Note the governance and controls in place to manage the IAS;
(v) Note the increase in gross borrowing costs (£105m) and net borrowing costs (£319m);
(vi) Note the potential for commercial loans and commercial income to support the investment strategy, especially over the short-term;
(vii) Note the impact of leverage on the IAS and the proposals regarding life-cycle costs reporting and funding; and
(viii) Agree that the loan to Robyna Ltd in respect of the North Street / London Road residential-led development be increased from £35m to £44m to take account of the increased units to be developed at the site, on the terms set out in Appendix 2 to the report.