Funding Arrangements

We are experts in public sector funding work including not only the drafting and negotiation of the funding documentation, but also advising on the relevant powers and the mitigation of risk associated with the various funding models. This includes advising on requirements and constraints associated with the exercise of particular powers, the requirements set out in statutory guidance and the terms and conditions imposed by lenders such as the Public Works Loan Board.

We are regularly advise our local authority clients on:

• Grant funding agreements
• Funding agreements
• Forward funding agreements
• Development funding agreements
• Loan agreements
• Inter-company loan arrangements
• Legal charges and debentures
• Security packages including guarantees and bonds
• Equity injections
• LEP funding
• Deed of priority
• Deeds of release
• Due diligence
• Registration at Companies House and the Land Registry

As part of advising local authorities on their funding arrangements, we will ensure such funding arrangements fall within and comply with the statutory framework including in respect of:

• Powers and vires including investment and borrowing powers
• Statutory guidance on local authority investments
• Public Works Loan Board (PWLB) lending terms
• Subsidy Control implications under the UK/EU Trade and Cooperation Agreement

We deal regularly with funding agreements which cascade Central and Devolved Government funding through local authorities as accountable bodies, and also support local authorities bidding for monies from Central and Devolved government funds.