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 either a

(a)   personal interest

(b)   prejudicial interest

(c)    disclosable pecuniary interest (DPI)

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 report for this item is public. However Appendices 2a and 2c contain information regarding the negotiations and the proposed or potential courses of action and are currently exempt from publication by virtue of Paragraph 3 of Part 1 of Schedule 12A of the Local Government Act 1972. It is considered on balance that the public interest would be not served by publishing information at this stage

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Blackpool Airport Enterprise Zone based on the principles outlined in this report and attached in Appendix 2a (which is not for publication) and the associated Marketing Plan in Appendix 2b as the basis of securing implementation of the Enterprise Zone Masterplan subject to approval by the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due diligence, the strategic acquisition the full details of which are set out in Appendix 2c (the details of which are not for publication), to delegate agreement the final terms of the acquisition subject to the limits outlined in Appendix 2c for approval by the Chief Executive.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.

The Executive agreed the recommendations as outlined above namely:

1.      To agree in principle to locate the Blackpool Museum in the Palatine Buildings.

2.      To authorise the Director of Communications and Regeneration to enter/continue negotiations.

3. To receive a further report on the next steps.

The Executive agreed the recommendations as outlined above namely:

1. To approve the provisional revenue outturn for 2017/2018 and in so doing to note that the figures are subject to external audit and final accounting adjustments (ref. paragraph 2.1).

2. To approve the recommendations regarding the treatment of specific service under / overspends as outlined (ref. paragraph 3.2).

3. To approve the provisional capital outturn for 2017/2018 and methods of scheme funding as outlined (ref. paragraphs 4.2 and 4.5).

4. To note the Prudential Indicators (ref. paragraph 4.3).

5. To note the levels of the earmarked reserves including those for the Housing Revenue Account and maintained schools (ref. paragraphs 6.1, 6.3 and 6.4).

6.      To approve the recommendation that £1.4m is taken from the Treasury Management Prudential Borrowing Reserve and £0.6m from the Collection Fund Deficit Reserve (Council Tax and NNDR) and added to General Fund Working Balances, increasing them to £6,034,000 for the start of the 2018/19 financial year (ref. paragraph 7.2).

The Executive agreed the recommendation as outlined above namely:

To note the report concerning Treasury Management activities for the financial year ended 31 March 2018.