Issue - meetings

Little Canfield Business Park

Meeting: 02/09/2021 - Cabinet (Item 38)

38 Little Canfield Business Park pdf icon PDF 12 KB

To consider the Little Canfield Business Park report.

Additional documents:

Decision:

RESOLVED to endorse the conclusions of the Investment Board and that:

 

i. The sum of £7,500,000 is allocated to the commercial element of the Little Canfield Business Park project from the £300,000,000 commercial fund; and

ii. The funding should be split on an 80% interest only and 20% repayment funding basis; and

iii. Council is requested to endorse the allocation and to authorise the necessary borrowing.

 

Minutes:

Councillor Reeve presented the report, which set out the position with regards to the commercial element of the Little Canfield Business Park, following discussion at the Investment Board on 27 July 2021. He responded to Councillor Caton’s question regarding solar panel installation and said it was not possible for the time being due to weight load. He proposed approval of the recommendations set out in the report and put forward by the Investment Board.

 

Councillor Day seconded the proposal.

 

Councillor Pepper said she was pleased to see green initiatives being incorporated into the building, such as built-in water storage.

 

            RESOLVED to endorse the conclusions of the Investment Board and that:

 

i.              The sum of £7,500,000 is allocated to the commercial element of the Little Canfield Business Park project from the £300,000,000 commercial fund; and

 

ii.             The funding should be split on an 80% interest only and 20% repayment funding basis; and

 

iii.            Council is requested to endorse the allocation and to authorise the necessary borrowing.

 


Meeting: 27/07/2021 - Investment Board (Item 6)

6 Little Canfield Business Park pdf icon PDF 128 KB

To consider the Little Canfield Business Park Report.

Minutes:

The Director – Finance and Corporate Services gave a summary of the report that set out the financial position for the Little Canfield Business Park and sought funding to enable the commercial element to be rented out.

 

In response to a question from Councillor De Vries, the Director – Finance and Corporate Services said that the impact on the neighbouring properties would be considered when tenants were selected.  He said that new tenants would have fewer vehicles and that it would be a stipulation of the tenancy that vehicles would not be allowed to turn right out of the site. 

 

AGREED that Members of the Investment Board recommend to Cabinet that: -

a.    The sum of £7,500,000 be allocated to the commercial element of the Little Canfield Business Park project from the £300 million commercial fund; and

b.    The funding should be split on an 80% interest only and 20% repayment funding basis.

 

Councillor Hargreaves left the meeting at 6:40pm