Council provides £68m in loans to housing associations since 2010

Since 2010, the authority has agreed loan deals with organisations including Warrington Housing Association, Muir Group Housing Association, Your Housing Group, Helena and Wulvern.

The council has made a sum of £235,369,234 available to the associations, with £67,797,170 of it used so far.

As well as generating a return for the borough, deals making up the loan portfolio are aimed at delivering major boosts to housing and jobs in the area.

In 2013, the executive board approved a £30 million loan to Muir.

Of the £30 million available, Muir has borrowed £12.5 million to date.

A total of £4 million has been given to Warrington Housing Association so far, £15 million to Helena, £10 million to Wulvern and £3 million to Your Housing.

The council has been discussing five further loans with other registered providers in recent months.

The authority confirmed one of the deals could come before the executive board at its next meeting at the Town Hall on May 23.

A spokesman added: "The council has set up an effective contract monitoring system to monitor its loan contracts on an ongoing basis.

"This has been subject to a full audit review, which resulted in a satisfactory audit opinion.

"A full risk assessment has been undertaken.

"The council's annual treasury management strategy details the financial risks facing the treasury portfolio over the coming year.

"All investment and borrowing activity has been undertaken in full compliance with the approved treasury management policy and treasury management strategy.

"It is also pleasing to note that the return on the council's investment portfolio continues to outperform industry benchmarks."

The authority said it cannot reveal the interest rates associated to the loan deals as it is 'commercially sensitive' information.

The council is forecasting a £5 million underspend position on its loans and investment budget at the end of the year.