In accordance with legislation the company can only seek loans from the Council. A loan of £2 million is included as part of the Council’s Capital programme towards the purchase of vehicles. An additional £1.8 million is required to allow the company to provide match funding and secure a Department for Transport (DFT) Grant of £5.7 million towards 36 electric buses and associated infrastructure. This is part of a number of measures to improve air quality. Having funding all funding in place is a requirement in order to accept the terms and conditions of DFT grant.
Decision type: Key
Decision status: Recommendations Approved
Notice of proposed decision first published: 10/05/2019
Decision due: 13 Jun 2019 by Cabinet
Lead member: Cabinet Member for Finance, Modernisation & Performance
Lead director: Corporate Director Resources & Section 151 Officer
Scrutiny Consideration: Amber/Ambr