The request of £2.281million will take it up to a forecast spend this year of £12.7million

Mid Devon District Council’s (MDDC) development company Three Rivers Development Ltd (3RDL) is being loaned more than £ 2 million from the authority. MDDC’s cabinet decided to loan the money at its September meeting. The leader of the council, Councillor Bob Deed (Cadbury, Independent), explained that 3RDL was an independent company with MDDC oversight. He added that “the company is entitled to operate the way it does, and the cabinet keeps an eye on what it is doing.”

Regarding the need for the loan and its background, Councillor Andrew Moore (Clare & Shuttern, Conservative), cabinet member for finance, said: “This is for the cabinet to authorise an increased current loan arrangement to 3RDL of £2,280,784.