Loans made by East Sussex County Council to Sea Change Sussex
Dear East Sussex County Council,
Please provide me with details of loans of public money that have been made by East Sussex County Council to Sea Change Sussex as follows:
1) The number of loans made
2) The dates of those loans
3) The amount loaned each time
4) The interest payable on the loans
In addition could you tell me how much has been repaid to date, when it was repaid and when any outstanding loans are due to be repaid?
Yours faithfully,
Chris Todd
Dear Mr Todd
EIR Request ref: 6104 / Loans to Sea Change Sussex
Thank you for your request for information about the above. Your request
was received on 15/9/2015 and I am dealing with it under the terms of the
Environmental Information Regulations 2004.
We always aim to respond as quickly as possible, and in this case will do
so no later than 13/10/2015, which is the 20 working day deadline. The
deadline is counted from the first working day we receive it, not the date
a letter is written / posted or an email sent.
In some circumstances a fee may be payable and if that is the case, I will
let you know. A fees notice will be issued to you, and you will be
required to pay before we proceed in dealing with your request.
Please quote the above reference number in any communication regarding
this request.
Yours sincerely
Amilia Holland
Customer Information Adviser
East Sussex County Council
Communities Economy and Transport Directorate
W1D, County Hall
St Anne’s Crescent
Lewes
East Sussex BN7 1UE
Phone: 01273 482913
Fax: 01273 481208
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Dear Mr Todd
EIR Request ref: 6104 / Loans to Sea Change Sussex
Thank you for your request for information about the above, which has been
dealt with under the terms of the Freedom of Information Act 2000. Your
request and our response are set out below. Please note that any
information we provide is subject to the copyright and reuse of
information terms and conditions set out at the bottom of this email.
REQUEST
Please provide me with details of loans of public money that have been
made by East Sussex County Council to Sea Change Sussex as follows:
1) The number of loans made
2) The dates of those loans
3) The amount loaned each time
4) The interest payable on the loans
In addition could you tell me how much has been repaid to date, when it
was repaid and when any outstanding loans are due to be repaid?
RESPONSE
ESCC has made six loans to Sea Change Sussex, details as follows:
1) Sovereign Harbour Innovation Mall (Pacific House)
Date of loan agreement 14/10/2014
Total value loaned to Sea Change Sussex £4,600,000
Interest payable
Nil – funded by the Growing Places Fund
Value repaid
Nil
+----------------------------------------+
|Outstanding Repayment|Expected Repayment|
|---------------------+------------------|
|£25,000 |31/03/2017 |
|---------------------+------------------|
|£200,000 |31/03/2018 |
|---------------------+------------------|
|£300,000 |31/03/2019 |
|---------------------+------------------|
|£475,000 |31/03/2020 |
|---------------------+------------------|
|£400,000 |31/03/2021 |
|---------------------+------------------|
|£3,200,000 |31/03/2022 |
+----------------------------------------+
2) Bexhill Business Mall (Glovers House)
Date of loan agreement 08/09/2014
Total value loaned to Sea Change Sussex £6,000,000
Interest payable
Nil – funded by the Growing Places Fund
Value repaid
Nil
+----------------------------------------+
|Outstanding Repayment|Expected Repayment|
|---------------------+------------------|
|£25,000 |31/03/2016 |
|---------------------+------------------|
|£200,000 |31/03/2017 |
|---------------------+------------------|
|£300,000 |31/03/2018 |
|---------------------+------------------|
|£500,000 |31/03/2019 |
|---------------------+------------------|
|£4,975,000 |31/03/2020 |
+----------------------------------------+
3) North Queensway Development
Date of loan agreement 26/04/2013
Total value loaned to Sea Change Sussex £1,500,000
Interest payable
Nil – funded by the Growing Places Fund
Value repaid
£500,000 repaid 31/03/2015
+----------------------------------------+
|Outstanding Repayment|Expected Repayment|
|---------------------+------------------|
|£500,000 |31/03/2016 |
|---------------------+------------------|
|£500,000 |31/03/2017 |
+----------------------------------------+
4) Priory Quarter
Date of loan agreement 26/04/2013
Total value loaned to Sea Change Sussex £7,000,000
Interest payable
Nil – funded by the Growing Places Fund
Value repaid
Nil
+----------------------------------------+
|Outstanding Repayment|Expected Repayment|
|---------------------+------------------|
|£400,000 |31/03/2017 |
|---------------------+------------------|
|£400,000 |31/03/2018 |
|---------------------+------------------|
|£400,000 |31/03/2019 |
|---------------------+------------------|
|£400,000 |31/03/2020 |
|---------------------+------------------|
|£5,400,000 |31/03/2021 |
+----------------------------------------+
5) Sovereign Harbour Employment Land
Date of loan agreement 12/11/2014
Total value loaned to Sea Change Sussex £800,000
Interest payable 3%
Value repaid
Nil
Outstanding Repayment is due at date of first sale income or at the latest
by 31/03/2024.
6) North East Bexhill Gateway Road
Date of loan agreement 14/10/2014
Total value loaned to Sea Change Sussex £800,000
Interest payable 3%
Value repaid
Nil
Outstanding Repayment is due at date of first sale income or at the latest
by 17/06/2024.
I hope that this answers your enquiry. If you believe that the County
Council has not complied with the FOI Act in responding to your request,
you may ask for an internal review. If you wish to do so, please set out
the grounds of your appeal in writing to:
Philip Baker, Assistant Chief Executive, East Sussex County Council,
County Hall, St Anne’s Crescent, Lewes, East Sussex. BN7 1UE.
or by email to him at [1][email address]
Please quote the FOI reference number in any communication regarding this
particular request.
If you are not content with the outcome of the internal review, you then
have the right to apply directly to the Information Commissioner for a
decision. Generally, the Information Commissioner cannot make a decision
unless you have exhausted the County Council’s internal review procedure
as described in the previous paragraph. The Commissioner can be contacted
at: Information Commissioner's Office, Wycliffe House, Water Lane,
Wilmslow, Cheshire, SK9 5AF. Tel: 0303 123 1113. [2]www.ico.org.uk
Yours sincerely
Amilia Holland
Customer Information Adviser
East Sussex County Council
Communities, Economy and Transport
W1D, County Hall
St Anne’s Crescent
Lewes
East Sussex BN7 1UE
Phone: 01273 482913
Fax: 01273 481208
email: [3][East Sussex County Council request email] web: [4]www.eastsussex.gov.uk/foi
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This message is intended for the use of the addressee only and may
contain confidential or privileged information. If you have received it in
error please notify the sender and destroy it. You may not use it or copy
it to anyone else.
E-mail is not a secure communications medium. Please be aware of this
when replying. All communications sent to or from the County Council
may be subject to recording and/or monitoring in accordance with
relevant legislation.
Although East Sussex County Council has taken steps to ensure that this
e-mail and any attachments are virus free, we can take no responsibility
if a virus is actually present and you are advised to ensure that the
appropriate checks are made.
You can visit our website at http://www.eastsussex.gov.uk
References
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4. http://www.eastsussex.gov.uk/foi
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