Decision details

Seeking Cabinet approval for a loan from the Property Investment Fund for Kingsgate Phase 2.

1)    That approval be given to a loan from the Property Investment Fund for the remodelling of the Kingsgate Centre, in accordance with the detail as set out within the exempt report at Agenda Item 15.

2)    That the Strategic Director (Growth and Regeneration), in consultation with the Cabinet Members for Regeneration and Corporate Services, having sought advice from the Service Director (Legal, Governance and Commissioning) and the Service Director (Finance) be authorised to carry out appropriate due diligence on the proposal to offer a loan from the Property Investment Fund, including due diligence on WD’s latest business plan.

3)    That the Service Director (Legal, Governance and Commissioning) be authorised to enter into any documentation required to agree the Property Investment Fund loan and to protect the Council’s position as lender.