Cabinet agree loan for struggling college

Councillors have approved a �2miilion loan to Newham College of Further Education

Councillors have approved a �2miilion loan to Newham College of Further Education - Credit: Archant

Councillors tonight have, as expected, approved a £2million loan to Newham College of Further Education.

The college, which has campuses in East Ham and Stratford, is facing losing almost £5million from its budget due to government cuts.

The loan will then be repaid over the next two years at a commercial rate.

During the brief meeting, cabinet members also approved the external running of the Shared Lives scheme.

Currently around 30 families provide accommodation and care in their own homes for ill and recovering adults.

The approval of the proposals will see the scheme run as a non-profit company to improve the services provided and enable the needs of more people to be met.

Newham’s role as a growth borough alongside the five other London 2012 host boroughs was another topic up for consideration.

Most Read

The cabinet agreed to continue participation in a renamed joint committee alongside the boroughs of Barking and Dagenham, Tower Hamlets, Hackney, Waltham Forest and Greenwich, subject to the agreement of their respective cabinets to continue their membership.

The final item on the agenda was that of the council’s role in Red Door Ventures, which aims to deliver affordable and market housing.

The cabinet agreed with the recommendation that the exercise of the council’s rights as a shareholder should be delegated to the chief executive, Kim Bromley-Derry.

There was also some discussion over the closure of Paul’s Fish Bar in Vicarage Lane in order for it to be turned into flats, something approved by the planning committee earlier this week.

Concerns were raised over the importance of jobs over housing.

For a full report on tonight’s meeting, pick up a copy of next week’s Newham Recorder.