The Agenda for the October Meeting of the Parish Council will include an item to discuss whether the Parish Council should apply to the Public Works Loan Board for a loan of £50,000 in order to facilitate cash flow during the Community Building / Pre-School Building Project.
Residents are warmly invited to participate in the Public Session and to present their views and comments to the Council at the meeting on 7th October at 7.00pm in the Epworth Hall on Winchester Road.
Figures are currently being worked on, but at this stage it is expected that the cost of this loan will be:
Term: 18 months (minimum that PC can apply for)
Interest Rate: 1.57%
Cost of Borrowing: £ 985.08
Total Repayment: £50,985.08
There are no plans to increase the Precept (part of the Council Tax that the Parish Council receive) as all repayments should be made from GRANT MONEY that has been promised to the Council.
The Consultation is merely to ask YOU THE RESIDENTS…
“Should the Parish Council go ahead with the loan application….. Yes or No?”
You can vote on this issue here: SURVEY MONKEY
If you have further questions please contact the Clerk by email on firstname.lastname@example.org.