Issue - meetings

To consider a one year extension of the previously approved Property Investment Fund loan for the Kingsgate Centre.

Contact: Liz Jefferson, Housing Growth

Exempt information is provided in the appendix to the report.

Consideration must be given to whether the public and press should be excluded from the meeting prior to the determination of the matter to enable the exempt information to be discussed by passing the following resolution:-

To resolve that under Section 100(A)(4) of the Local Government Act 1972, the public be excluded from the meeting during the consideration of the following item of business, on the grounds that it involves the likely disclosure of exempt information, as defined in Part 1 of Schedule 12A of the Act.

RESOLVED –

1)    The approval be given to the extension of a loan from the Property Investment Fund, previously given for the remodelling of the Kingsgate Centre, for a period of one year until July 2026, in accordance with the details as set out in the exempt appendix to this report.

2)    That the Service Director (Legal, Governance and Commissioning) be given delegated authority to enter into any documentation required to agree the extension of the Property Investment Fund loan and to protect the Council’s position as lender. 

(The report included exempt information in accordance with Schedule 12A of the Local Government Act 1972 (Access to Information) (Variation) Order 2006, namely it contains information relating to financial and business affairs of third parties (including the Authority holding that information)).

(Under the provision of Council Procedure Rule 36(1), Cabinet received a representation from Councillor Scott).

Cabinet gave consideration to a request for a one year extension of the previously approved Property Investment Fund Loan from the Kingsgate Centre. It was noted that the loan had previously been granted for the remodelling of the Kingsgate Centre, for a period of one year until July 2026.

Cabinet were advised that the extension of the loan would support the Huddersfield Blueprint vision for the continued revitalisation of Huddersfield Town Centre. It was noted that, subject to approval, legal documentation would be updated prior to the current loan expiry date of July 2025, and the loan period would then continue until July 2026.

RESOLVED –

1)    The approval be given to the extension of a loan from the Property Investment Fund, previously given for the remodelling of the Kingsgate Centre, for a period of one year until July 2026, in accordance with the details as set out in the exempt appendix to this report.

2)    That the Service Director (Legal, Governance and Commissioning) be given delegated authority to enter into any documentation required to agree the extension of the Property Investment Fund loan and to protect the Council’s position as lender.