Decision details

Note: This decision is recorded following the end of Dorset County Council on 31 March 2019.  The detail of the decision was received on or after 1 April 2019.

Reprofiling of the repayments of the loan made to Kimmeridge Fossil Museum.  The letter (also attached to the email accompanying this form) sets out the details of the arrangement.

Essentially Purbeck DC and Dorset County Council each made loans to the museum.  The first repayments were subsequently not affordable for the museum, so as well as consolidating the two loans into one (by virtue of the establishment of Dorset Council) the repayments were reprofiled in line with a revised business plan originally seen by Richard Bates and Steve Mackenzie.

The original schedule of repayments proved unaffordable and a revised business plan was presented.  Officers gained comfort that rescheduled payments would be affordable, there was no real alternative except to put the museum into administration and this was against the wishes of Members.

None feasible, only the placing of the museum into administration.