LAMBETH AUSTERITY 3 – COUNCIL TO LOAN THE OLD VIC £3.75 MILLION? (‘Neither a borrower or a lender be’?) / and THE CASE OF THE DELAYED DECISION (‘A plague on both your houses’?)

Austerity-hit Lambeth council are set to give the historic Old Vic theatre a loan of £3.75 million.

A report in the Evening Standard headlined ‘Old Vic Theatre to partner up with Lambeth and Southwark councils to fund new education centre’ by Robert Dex four days ago said the councils would be lending money to the theatre.

This prompted People’s Audit Lambeth to post on Twitter: #Lambeth & #Southwark lend £3.75M each to Old Vic. Would like to see details of this arrangement:

No decision has been made yet. If you look on Lambeth.gov delegated decisions you’ll find the following:

To consider the community benefits and Old Vic Theatre Annexe loan arrangements

Decision type: Key

Reason Key: 2. Financial;

Decision status: For Determination

Wards affected: (All Wards);

Notice of proposed decision first published: 18/06/2019

Decision due: Not before 17 Jul 2019 by Cabinet Member for Finance and Performance

Lead member: Cabinet Member for Finance and Performance

Lead director: Strategic Director: Finance and Investment

Department: Finance and Investment

Contact: Christina Thompson, Interim Strategic Director of Finance and Investment Email: CThompson3@lambeth.gov.uk

Documents Old Vic Theatre Annexe (which has no link, as at 6.30pm today Friday but will probably ‘activate’ over the weekend as five days has to elapse following an announcement before a decision can be made – Ed.)

Note: “Neither a borrower or a lender be” is said by Polonius in Act-I, Scene-III of William Shakespeare’s play Hamlet

Note: “A plague on both your houses” is said by Mercutio in Shakespeare’s Romeo and Juliet, act three scene one.

THE CASE OF THE DELAYED DECISION

But there’s an older document on lambeth.gov decisions where no decision appears to have been reached:

Estate Regeneration – Early Buy Backs – Funding Request

To secure further funding through borrowing to continue the early buy-back programme, which is required as part of the estate regeneration programme.

Decision type: Key

Reason Key: 3. Community Impact;

Decision status: For Determination

Wards affected: Clapham Town; Gipsy Hill; Larkhall; Prince’s; Stockwell; Tulse Hill;

Notice of proposed decision first published: 08/04/2019

Decision due: Not before 9 May 2019 by Cabinet Member for Planning, Investment and New Homes

Lead director: Strategic Director: Sustainable Growth and Opportunity

Department: Sustainable Growth and Opportunity

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