Newcastle City Council has borrowed £8m to invest in a major shopping centre redevelopment.
Eldon Square in Newcastle is set to undergo a £65m overhaul which would see a former leisure centre and the top floor of a vacant Debenhams turned into a food, leisure and entertainment space.
The council, which holds a 40% stake, has agreed to take out a £7.8m loan to contribute to the development.
The redevelopment is expected to create up to 900 jobs and bring in £1m a year.
