Newton Abbot Town Council News
Resolution to Borrow
Please see below Resolution from the Minutes of the Council Meeting held on 6th June 2018 (Minute 71 B)
RESOLVED that a) the Clerk be delegated authority to seek approval from the Secretary of State for Housing, Communities and Local Government to apply for a Public Works Loans Board loan of £800,000 up to 40 years for the refurbishment of the 19th Century listed former Church of St Leonards into a Museum and Community Space for the benefit of the community, b) In the event that it being necessary to increase the precept for the purposes of servicing the loan; it would be intended to increase the precept by 1.8% which is the equivalent of an additional £2.03 council tax per Band D property per year, and c) that the project group continue a rolling programme of funding applications whereupon if they were successful in the autumn of 2018, prior to the setting of the annual budget, that this would negate the need of increasing the precept.
The Town Council welcomes the views, suggestions and feedback from the residents on the projects and associated borrowing approval application .