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PROVISION OF A BUSINESS LOAN- BLACKPOOL AIRPORT

 

 

Meeting: 23/03/2020 - Executive (Item 6.)

6. PROVISION OF A BUSINESS LOAN TO BLACKPOOL AIRPORT OPERATIONS LIMITED pdf icon PDF 295 KB

To consider a loan from the Council’s Business Loans Fund to Blackpool Airport Operations Limited.     

 

Additional documents:

Decision:

The Executive agreed the recommendations as outlined above namely:

 

  1. To authorise the provision of a £1m business loan to Blackpool Airport Operations Limited (BAOL) over a 25 year repayment term towards essential capital investment at Blackpool airport.  

 

  1. To provide authority for the Head of Legal Services to prepare legal documentation for the loan facility.

 

  1. To delegate authority to the Chief Executive and the Business Loans Panel to finalise any legal conditions.