Items
Note |
No. |
Item |
1. |
DECLARATIONS OF INTEREST
Members are asked to declare any
interests in the items under consideration and in doing so
state:
(1) the
type of interest concerned; and
(2) the
nature of the interest concerned
If any member requires advice on
declarations of interests, they are advised to contact the Head of
Democratic Governance in advance of the meeting.
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2. |
PROVISION OF LOAN FINANCE TO BLACKPOOL TRANSPORT SERVICES LIMITED PDF 309 KB
Additional documents:
Decision:
The Executive agreed the
recommendation as outlined above namely:
- To
Prudentially Borrow up to £16.2m over a term of 10 years to
lend to Blackpool Transport Services Limited.
- To
offer Blackpool Transport Services Limited a loan facility of up to
£16.2m. It is intended to phase the release of the funds
to cover the purchase of 20 double
buses in October 2017 (£4,659,000), 4 buses in March 2018
(£934,000), 18 buses in October 2018 (£2,997,000), 15
buses in March 2019 (£3,558,000), 15 buses in March 2020
(£3,635,000), and sundry depot assets (totalling
£217,000). Each loan would be repaid over ten years with 120
monthly payments. The requested loan
facility also includes a £200,000 contingency to allow for
price change over the life of the renewal programme.
- To
offer Blackpool Transport Services Limited a short-term facility of
up to £1,000,000 for 2 months after each drawdown in order to
manage cash flow in respect of the VAT payable on the
transaction.
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3. |
WINTER GARDENS CONFERENCE AND EXHIBITION CENTRE PDF 253 KB
Additional documents:
Decision:
The Executive agreed the
recommendations as outlined above namely:
- That the principles in delivering the remaining stages of the
Blackpool Conference and Exhibition Centre project are agreed as
set out in the Executive report and Appendix 3a, to the Executive
report.
- That the Director of Place be provided with delegated authority
to complete the delivery of the scheme as set out in the Executive
report and Appendix 3a to the Executive report to include the
completion of all due diligence associated with the
project.
That authority is provided to
complete the project funding package through debt finance in the
form of Prudential Borrowing, as detailed in Appendix 3a to the
Executive report.
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4. |
MADAME TUSSAUDS ATTRACTION BUSINESS DEVELOPMENT PDF 229 KB
Additional documents:
Decision:
The Executive agreed the
recommendations as outlined above namely:
- That the principles in delivering the Madame Tussauds attraction
project are agreed as set out in the Executive report.
- That the Director of Place be provided with delegated authority
to complete the delivery of the scheme as set out in this report,
to include the completion of all due diligence associated with the
project.
- That authority is provided to Prudentially Borrow to fund this
scheme, as detailed in Appendix 4a to the Executive
report.
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5. |
FINANCIAL PERFORMANCE MONITORING AS AT MONTH 3 2017/18 PDF 222 KB
Additional documents:
Decision:
The Executive agreed the
recommendation as outlined above namely:
- To
note the report.
- To lobby
Government along with other local authorities facing similar
pressures and the Local Government Association for more funding to
cope with the mounting demand and new burdens presenting in
Children’s Services.
3.
To require the respective directors and Director of Resources to
continue to closely monitor and manage service
financial and operational performances, specifically
Children’s Services, Strategic Leisure Assets, Parking
Services, Treasury Management/Business
Loans Fund and Places.
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6. |
TOWN CENTRE INVESTMENT
(This item to be considered in
private by virtue of Paragraph 3 of Schedule 12a of the Local
Government Act 1972 as the report contains information
relating to the financial or business affairs of any particular
person (including the authority holding that information))
It is not in the
public interest to disclose this information at present although
information will be made public as soon as possible.
Notification has been given on the 10 August
2017 that this item was to be considered in private and no
representations have been received in response to this
notification.
Decision:
The Executive resolved as
follows:
-
That under Section 100 (A) of the Local Government
Act 1972, the public be excluded from the Executive meeting during
consideration of this item on the grounds that it would involve the
likely disclosure of exempt information as defined in
paragraph 3 of Part 1 of Schedule 12A of the Act, namely
information relating to the financial or business affairs of any
particular person.
- To
enter into negotiations regarding the leases, sub-leases and other agreements required to
facilitate the development as outlined in the confidential report
to the Executive.
- Subject to the financial limits outlined in the report
considered by the Executive, for the authority to complete the
relevant leases and authorise any payments to make the scheme
viable to be delegated to the Chief Executive after consultation
with the Leader of the Council.
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7. |
INVESTMENT IN SUPPORT OF BLACKPOOL AIRPORT ENTERPRISE ZONE
(This item to be considered in
private by virtue of Paragraph 3 of Schedule 12a of the Local
Government Act 1972 as the report contains information
relating to the financial or business affairs of any particular
person (including the authority holding that information))
It is not in the
public interest to disclose this information at present although
information will be made public as soon as possible.
The Chairman of the
relevant Overview and Scrutiny Committee approved that this item be
treated as an urgent confidential decision and notification
has been given on the 29 August 2017 that this item was to be
considered in private and no representations have been received in
response to this notification.
Decision:
The Executive resolved as
follows as an urgent decision:
-
That under Section 100 (A) of the Local Government
Act 1972, the public be excluded from the Executive meeting during
consideration of this item on the grounds that it would involve the
likely disclosure of exempt information as defined in
paragraph 3 of Part 1 of Schedule 12A of the Act, namely
information relating to the financial or business affairs of any
particular person.
-
That the Council acquires all ordinary shares in
Regional and City Airports (Blackpool) Holdings Limited and
associated subsidiary companies.
-
The Council to pay £4,250,000 (plus VAT if
applicable) to Balfour Beatty Infrastructure Investments Ltd for
100% of the issued share capital in Regional and City Airports
(Blackpool) Holdings Ltd and incur additional acquisition costs
estimated to be in the region of £250,000.
-
That the purchase of the issued 14,000,000 ordinary
shares in Regional and City Airports (Blackpool) Holdings Ltd to be
completed on the 12 September 2017.
-
That the Chief Executive, after consultation with
the Leader of the Council, be authorised to nominate the
appointment of Directors and Company Secretary in respect of
Regional and City Airports (Blackpool) Holdings Limited and
associated subsidiary companies or any new company
structure.
-
That the Chief Executive be required to present a
further report setting out proposals for the subsequent operation,
promotion and development of Blackpool Airport, in support of the
delivery of Blackpool Airport Enterprise Zone, including a long
term business plan for the Airport.
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