Decision
Analysis
outcome: Recommendations were approved for the new loan facilities.
summary: The decision involves approving new loan facilities for the refurbishment and completion of buildings for Aspire (CRP) Limited.
topline: The Investment Board and Cabinet have decided to approve new loan facilities for Aspire (CRP) Limited's building projects.
reason_contentious: This issue may be contentious as it involves allocating significant funds to a specific company for building projects.
affected_stakeholders: ["Aspire (CRP) Limited", "Investment Board", "Cabinet", "Full Council"]
contentiousness_score: 6
political_party_relevance: There are no mentions or implications of political parties in the decision.
URL: https://uttlesford.moderngov.co.uk/ieDecisionDetails.aspx?ID=800
Decision Maker: Investment Board, Cabinet
Outcome: Recommendations Approved
Is Key Decision?: Yes
Is Callable In?: No
Purpose: To consider the report regarding a request for further investment at Chesterford Research Park.
Content: RESOLVED to: I. approve a new loan facility of up to £5,100,000 be made available to Aspire (CRP) Limited, for the refurbishment of Building 900 at an interest rate of 6.25% on a repayment basis, to be drawn down in tranches over a period of up to 2 years with repayments commencing from 1 April 2027, subject to Full Council agreeing to make funding available for this purpose; II. approve a new loan facility of up to £2,500,000, be made available to Aspire (CRP) Limited, for the completion of Building 800 at an interest rate of 6.25% on an interest only basis, to be drawn down in tranches over a period of up to 2 years with repayments commencing from 1 April 2026, subject to Full Council agreeing to make funding available for this purpose; III. note the implications of making the loan on the Council’s access to Public Works Loan Board, as set out in paragraphs 24 to 26 of the following report.
Date of Decision: August 21, 2025