Decision details

This report seeks approval under delegated authority for the award of a loan agreement to Five Miles London Ltd for the value of £150,000 subject to the approval of planning permission. The planning permission is conditional on the signing of a travel plan by Ten87 who are sub-letting the space.
The business will use the loan in order to provide a bar/cafe, club/performance space and micro-brewery on the site at Markfield Road, Tottenham Hale.
OIF will be used specifically for the building works including the construction of the state-of-the-art event space and part payment for the construction and fit-out of the trade area, micro-brewery and back of house.

Officers’ recommendations have been approved by the Tottenham Programme Delivery Board on 6 February 2017, following evaluation of a funding application by officers, including the OIF Advisory Group made up of officers from LBH and GLA.
The recommendation is to award Five Miles London Ltd a loan agreement for the value of £150,000 subject to the approval of planning permission.

The project has been recommended for approval based on the evaluation of an application and business plan solicited through an open bidding round.
The evaluation process is set out in the OIF application pack and assesses applicants’ proposals on the contribution to core criteria of the fund, strategic objectives as set out in the Tottenham Strategic Regeneration Framework and the financial and operation competency of the applicant.