Cabinet members yesterday discussed the “proposed amendments to Kirklees College loan agreement.”
The agenda item was taken in a private part of a meeting and senior councillors were asked to “consider a request from Kirklees College to vary the terms of the above” loan agreement.
The Examiner revealed in 2010 that the council had agreed to a £23m loan to help fund the college’s £74m campus. The deal was also struck in private.
The college is using its sites as security for the council loan, which is repayable over 25 years.
Kirklees have always said the loan will eventually generate a small surplus for council finances.
Some financial matters are decided in private by Kirklees Cabinet.
Earlier this month they agreed to provide funding for the John Smith’s Stadium. The council is a shareholder but the amount was discussed in secret.