Decision details

The Executive resolved as follows:

1.      To approve the overall Delivery Plan for Blackpool Airport Enterprise Zone based on the principles outlined in this report and attached in Appendix 2a (which is not for publication) and the associated Marketing Plan in Appendix 2b as the basis of securing implementation of the Enterprise Zone Masterplan subject to approval by the Lancashire Enterprise Partnership Limited for submission to the Ministry for Housing, Communities and Local Government.

2.      To note the overall estimated lifetime cost estimate of £72.0m (plus Prudential Borrowing costs funded at the prevailing treasury management pooled rate) for delivering the Enterprise Zone to its end date in 2041 (as set out in Table 4).

3.      To approve the estimated capital cost for the first three years of £28.82m (plus Prudential Borrowing costs funded at the prevailing treasury management pooled rate) for the delivery of essential infrastructure and associated support for the three years 2018/19 to 2020/21 (as set out in Table 3 at paragraph 5.8), and to delegate to the Chief Executive, after consultation with the Leader of the Council, to authorise expenditure on individual schemes within the three year programme where they exceed officer delegation limits and subject to a business case being prepared. 

4.      To approve in principle, subject to further due diligence, the strategic acquisition the full details of which are set out in Appendix 2c (the details of which are not for publication), to delegate agreement the final terms of the acquisition subject to the limits outlined in Appendix 2c for approval by the Chief Executive.

5.      To note that there will be an annual review of progress and expenditure on the Delivery Plan reported to both the Executive and the Lancashire Enterprise Partnership.

6.      To authorise the Chief Executive to explore opportunities for securing additional private sector investment required to deliver the anticipated level of rates income in the Enterprise Zone through Joint Venture Partnerships and design and build contractors to support the delivery of Enterprise Zone objectives and potentially reduce borrowing costs.

7.      To authorise the Chief Executive to enter into any supplementary agreements or protocols with the Lancashire Enterprise Partnership and Fylde Borough Council should they be necessary to clarify any elements of the Enterprise Zone Memorandum of Understanding.