Decision –
1) That approval be given to the request from Kirklees Stadium Development Ltd to give a second charge on the John Smith’s Stadium site, Huddersfield and to release its charge on the shareholding on the subsidiary company to allow the loan facility for the purchase of the Gas Works Street Huddersfield site to be secured by the relevant subsidiary company of Kirklees Stadium Development Ltd
2) That the entering into a deed of priority limiting the amount of the Council’s first charge on the stadium site be approved in accordance with the terms set out in the considered report.
3) That delegated authority be granted to the Assistant Director, Legal and Governance to enter into and execute all necessary legal documentation required to give effect to decisions 1 and 2 above
(the Chair of the Overview and Scrutiny Management Committee had been advised of the entry to the forward plan of key decisions in relation to this matter and the need to make an urgent entry in relation to a private report being considered by Cabinet outside the 28 day notice period and had agreed to the consideration of the report. The Chair of the Overview and Scrutiny Management Committee had also agreed to waive the call in, due to the need to take urgent action on the matter under consideration, to ensure the offer of the sale of the Gas Works site was not withdrawn).