Decision details

1) That approval be given to an offer of secured debt to Kirklees Stadium Development Limited (KSDL) to allow KSDL to invest to acquire a majority equity stake in the Snow Sports Centre Special Purpose Vehicle that will develop such a facility at the John Smith’s stadium site, Huddersfield.

2) That the Assistant Director (Place), Assistant Director (Legal, Governance and Monitoring) and Assistant Director (Financial Management, Risk, IT and Performance) be authorised to enter into detailed due diligence on the documentation required to progress (1) above, and to progress negotiations on a loan to provide secured debt.

3) That authority be delegated to the Chief Executive, in consultation with the relevant Cabinet Member, to agree the final terms of the loan with KSDL and give consent on behalf of the Council to the terms by which KSDL makes its equity investment into the Special Purpose Vehicle for the Snow Sports Centre.

4) That authority be delegated to the Assistant Director (Legal, Governance and Monitoring) to enter into any documentation required in connection with the loan to KSDL.