The Assistant Director for Regeneration and
Economic
Development agrees to award FoodArt Limited a loan for the value of
£350,000.00 (three hundred and fifty thousand pounds) subject
to a loan agreement being entered and evidence of signed lease,
approval of appropriate licence(s) and any planning permission
should it be required and evidence of match funding. It is proposed
that a charge of 6.6% interest is applied to the loan and repayment
are made over 60 months with a repayment holiday of 6 months (i.e.,
repayments begin at month 7).