Issue - decisions

The Cabinet has considered a proposal to provide a loan facility for Life Leisure (the trading name of Stockport Active CIC) to fund the replacement of equipment, general capital improvements to centres and initiatives to make leisure centres more energy efficient and has:-

(1) Approved the loan facility for Life Leisure to fund the replacement of equipment, general capital improvements to centres and initiatives to make leisure centres more energy efficient; the loan facility being of a maximum of £5m to be requested as and when deemed necessary by the Board and Executive of Life Leisure during the current services contract between the Council and Life Leisure which runs until 31st March 2027.

(2) Delegated authority to the Deputy Chief Executive in consultation with the Cabinet Member for Finance & Resources to approve specific borrowing requests from Life Leisure under the terms of the overall loan facility, following consideration of appropriate business cases supplied.