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  • 3 months ago
Newport City Council has faced fresh questions over loan funding for two regeneration projects.
Transcript
00:00Newport City Council has faced fresh questions over loan funding for two regeneration projects.
00:07On Tuesday, opposition councillors pressed the local authority's leader for information relating to the indoor market project
00:15and the redevelopment of the city's former Royal Mail sorting office in Mill Street.
00:21The City Council agreed a £6 million loan to the market's developer for the project
00:27and a separate deal for a share of rental income.
00:31Noting the loan is due for repayment in February 2026,
00:35the Conservative leader enquired as to whether the Council was confident that the loan world be repaid in full.
00:44The Council leader described the matter as commercially sensitive,
00:48but said the Council's Governance and Audit Committee would receive a confidential briefing
00:53so they will be updated on that investment.
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