Agenda and decisions

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.

The Executive agreed the recommendation as outlined above namely:

1. To Prudentially Borrow up to £16.2m over a term of 10 years to lend to Blackpool Transport Services Limited.

2. 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.

3. 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.

The Executive agreed the recommendations as outlined above namely:

1. 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. 

2. 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.   

The Executive agreed the recommendations as outlined above namely:

1. That the principles in delivering the Madame Tussauds attraction project are agreed as set out in the Executive report. 

2. 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.

3. That authority is provided to Prudentially Borrow to fund this scheme, as detailed in Appendix 4a to the Executive report.   

The Executive agreed the recommendation as outlined above namely:

1. To note the report.  

2. 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.

(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.

The Executive resolved as follows:

1. 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.

2. 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.

3. 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.

(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.

The Executive resolved as follows as an urgent decision:

1. 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.

2. That the Council acquires all ordinary shares in Regional and City Airports (Blackpool) Holdings Limited and associated subsidiary companies.

3. 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.

4. 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.

5. 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.

6. 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.