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.