Decision details

The recommendations in the report were referred to Council for approval, and are therefore not subject to call-in, but with the following additional recommendations:

12)      That the Section 151 Officer, in consultation with the Leader, be given delegated authority to borrow as necessary for the Joint Venture limited liability partnership which is established to deliver the City Centre re-development as described in the report to the Cabinet on 5th February 2019 entitled "City Centre Regeneration"

13)      That prior to any borrowing described in Recommendation 12 above, a full business case and financial appraisal is prepared that can satisfactorily demonstrate with good certainty that cost savings / additional income or value uplift of the development which will accrue directly to the Council will at least cover the cost of that borrowing on a sustained basis over the lifetime of the borrowing undertaken