Louth Town Council
The Sessions House, Eastgate,
Louth, Lincolnshire, LN11 9AJ
01507 355895
clerk@louthtowncouncil.gov.uk

 To the Members of the Town Council of Louth:

You are hereby summoned to attend an extraordinary meeting of Louth Town Council which will be held on Tuesday 1^st October 2024 in The Old Court Room, The Sessions House, Eastgate, Louth at 7pm.  The business to be dealt with at the meeting is listed in the agenda below.

There will be no public forum.

Mrs. L.M. Phillips
Town Clerk
Dated this 26^th Day of September 2024

AGENDA
TOWN COUNCIL

1. Apologies for Absence
   To receive and note apologies where valid reasons for absence have been given to the Town Clerk at least one hour prior to the meeting.
2. Declarations of Interest / Dispensations
   To receive declarations of interest in accordance with the Localism Act, 2011 – being any pecuniary interest in agenda items not previously recorded on Members’ Register of Interests and any written requests for dispensation received by the Proper Officer under section 22 of the Localism Act.
3. Closed Session Item
   Council to resolve to move into closed session in accordance with the Public Bodies (Admission to Meetings) Act 1960 due to the business to be discussed in the following item, information being of a confidential, third party and sensitive nature in relation to:
   1. Our Hall Louth Ltd
      Council to:
      1. Ratify the actions of the Town Clerk and Chairman who approached Wilkin Chapman, as requested by the CR Committee on 17^th September, to act on behalf of the Council but who were unable to accept the Council’s instructions due to a conflict of interest. Therefore, using delegated powers advice was sought from another solicitor, outside of Louth, with experience of working with Councils.
      2. Receive information to verify the financial standing of Our Hall Louth’s guarantor.
      3. Receive advice regarding the Memorandum of Understanding, provided by Our Hall Louth on 17^th September and resolve upon whether to sign this.
      4. Consider draft guarantor agreement.
      5. Consider draft loan agreement.
      6. Consider providing a statement of funding intention to the vendor’s agent.
      7. Consider deferring the start date of monthly repayments to a date when Our Hall Louth Ltd., have access to grant funding, thus facilitating the re-opening of some of the services that are proposed to be offered by the Hall, and therefore enabling them to generate income to meet the monthly repayments.  This proposed deferred date would be no sooner than six months and no later than one calendar year from the draw down date of the loan.  (If the Town Council are not receptive to this supplementary request, the group will seek alternative finance for this bridging period from a third party.)

4. Next Meeting
   To note that the next scheduled meeting of Louth Town Council will take place on 19^th November 2024.