The Council has the following outstanding loans to organisations, as at 8th September 2017.
Rotherham United Football Club
The Council has provided two loans in respect of the new ground for Rotherham United Football Club. Details of the loans, both of which are for 10 years, and the amounts outstanding as at 8/09/17, are below:
Loan 1 to RU Estates – £2.800m issued in April 2012. £2.726m outstanding.
Loan 2 to ASD Lighting PLC Pension Fund – £1.327m issued in July 2012. £663k outstanding.
The interest rate of the loans is considered to be commercially sensitive information, but is at an appropriate market rate. Both loans are fully secured on the assets of the respective companies, therefore, there are no implications for the Council’s loans in the event that the Football Club goes into administration.
The Council has provided three loans to Chris Hamby in respect of the development of Rotherham High Street. The loan facilities were to facilitate the purchase and subsequent re-development of No’s 17,19 and 21 High Street along with the following listed buildings: No’s 25 – 29 High Street ‘The Three Cranes’; No.29a High Street a former Georgian Town House; and The George Wright Building. The loan facilities are secured by a Legal Charge over the property assets of Mr. Hamby, including the High Street properties. All the loans co-terminate in 2036. The interest rate of the loans is considered to be commercially sensitive information, but is at an appropriate market rate.
Development by a private sector owner was necessary to lever in Heritage Lottery Funding (HLF) to meet the cost of additional works to the listed buildings.
The balance outstanding on the loans as at 8/09/17 is £1,044,455.
Dinnington Resource Centre
The Council has provided a 10 year loan to the Dinnington Resource Centre for £65,856 in respect of the purchase and installation of solar PV panels at the Dinnington Resource Centre, 131 Laughton Road, Dinnington. The interest rate of the loan is considered to be commercially sensitive information, but is at an appropriate market rate.
The balance outstanding on the loan as at 8/09/17 is £45,522.
A loan for £300,000 was issued to the Magna Trust in 2006/07 and of this £190,000 was outstanding as at 08/09/17. The Council issued to Magna a short term loan of £250,000 during 2014/15. This was outstanding as at 8/09/17.
Rotherham RUFC (2004) Limited
A £50,000 short term loan has been provided to the Rugby Club. This is outstanding as at 8/09/17.