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Council news  >  Press Releases  >  3Rs Project – funding arrangements

3Rs Project – funding arrangements

18/11/08

Councillors have agreed proposals to offer the consortium up to £5m at an Urgent Business Committee on Tuesday November 18.

This is a short-term conditional loan to enable work to continue on four of the sites while the consortium identifies replacement funding.

Corporate Director for Resources Management Gordon Edwards said: “We have worked hard to come up with a compromise to help safeguard the integrity of this project.

“We will ensure appropriate conditions are put in place to protect the loan.”

3Rs Project Board Chairman Councillor Kevin Stewart added: “I am grateful that the committee agreed to this unanimously and I hope the long-term financial situation can be resolved sooner rather than later.

“We have been consulting with the Scottish Government and it is content with this course of action.”

If you have any queries regarding this, or any other news story, please contact Aberdeen City Council on: 01224 522000.