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Les Quennevais Park Flats Loan Scheme: Revised Terms: Amendment

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A decision made on 16 July 2021

Ministerial decision reference: MD-H-2021-0007

 

Decision summary title: Amendment to Proposition P.71 Les Quennevais Park Flats Loan Scheme  

 

Decision summary author

Private Secretary to the Minister for Housing and Communities

Is the decision summary public or exempt? 

Public

Report title: Amendment to Proposition P.71 Les Quennevais Park Flats Loan Scheme 

 

Report author or name of

person giving report

Senior Policy Officer, Strategic Policy, Planning and Performance

Is the report public or exempt?

Public

Decision and reason for the decision: The Minister decided to lodge ‘au Greffe’ an amendment to the proposition P.71 asking the States Assembly to refer to their Act of 22nd April 2021, in which they varied the purpose and terms of the 99-Year Leaseholders Fund to enable monies to be lent from the fund to individual property owners for the repair of balconies in blocks A to H, Les Quennevais Flats, and to vary the terms of such loans to allow for an extension of the loan period to up to 15 years. It also reduces the interest rate to 1%

 

Resource implications: The total amount to be made available for loans to property owners will be up to £700,000. The conditions that will be attached to the loans are set out in the Report. The loans will be managed by the Treasury and Exchequer Investment Management Team as part of their day-to-day activity.

 

Action required: Senior Policy Officer to request the Greffier of the States to lodge the Report and Proposition ‘au Greffe’ for debate by the States Assembly at the sitting on 20th July 2021.

 

Signature

 

 

 

 

Position

Deputy Russell Labey

Minister for Housing and Communities

Date signed

 

 

 

 

Effective date of the decision

 

 

 

 

 

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