(i)         that, subject to the penultimate sentence of paragraph (f) being amended as shown in bold below, the Torbay Economic Growth Fund Criteria set out at Appendix 1 to the submitted report be approved:

The rate of interest on the loan would be consistent with the Council’s Investment & Regeneration Fund i.e. typically 2% minimum return over borrowing costs and other relevant operating costs in respect of borrowing for third parties.; and

(ii)        that the Cabinet review the Torbay Economic Growth Fund Criteria in three to six months time.