Decision details

The Executive agreed the recommendations as outlined above namely:

1. To note the report and the success of attracting £40m towards the Multiversity.

2. To authorise the £16million Prudential Borrowing, the costs of which are to be covered by Blackpool and the Fylde College, as incorporated within the Levelling Up Fund bid and to delegate to the Chief Executive the agreement of the final terms after consultation with the relevant Cabinet Member.

3. To note that pursuant to Executive decision EX35/2022 that the voluntary acquisition of properties for the Multiversity is continuing and that a further report will be brought to the Executive to authorise the making of a Compulsory Purchase Order should such powers be required.

4. To authorise the Head of Legal to enter into such contracts as are necessitated by the successful approval to deliver the scheme.