Decision
Analysis
outcome: The loan rate fixed at 5.75% and grant agreements amended for a total value of £33.590 million
summary: Amending loan and grant agreements for TBG Open Door Limited
topline: The Executive Director Growth has decided to amend loan and grant agreements for TBG Open Door Limited
reason_contentious: This issue may be contentious as it involves a significant amount of public funds and changes to existing agreements
affected_stakeholders: ["TBG Open Door Limited", "Local Authority Housing Fund"]
contentiousness_score: 6
political_party_relevance: No mention of political parties or political influence
URL: https://barnet.moderngov.co.uk/ieDecisionDetails.aspx?ID=9860
Decision Maker: Executive Director Growth
Outcome:
Is Key Decision?: Yes
Is Callable In?: No
Purpose:
Content: To amend the existing Loan Facility Agreement in order to fix the loan rate of the £70 million Loan Facility to 5.75% for the remaining draw down against the loan facility by TBG Open Door Limited. To amend the £31.5 million existing Grant Agreement, to (i) replace £12.447 million of allocated RTB capital receipts with the Year 1 allocation (2026-2027) of the recently awarded LAHF Round 4 grant funding and (ii) to confirm re-allocation of £2.090 million of LAHF Round 1 grant as an addition to the grant agreement, bringing the amended Grant Agreement to a total value of £33.590 million. To enter into Deeds of Variations to the Loan Facility Agreement and Grant Agreement to formalise the changes set out in decisions 1. and 2.
Date of Decision: July 1, 2026