Additional Short Term Funding for KGE
This report is exempt from publication in accordance with paragraph 3 of Schedule 12A of the Local Government Act 1972 (as amended), because it contains:
Information relating to the financial or business affairs of any particular person (including the authority holding that information) and in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information because, disclosure to the public would prejudice the financial position of the authority in the bidding process for the site/services by allowing other bidders to know the position of the Council. This in turn prejudices the Council by (i) distorting the bids process and (ii) prejudicing the opportunity for the Council to acquire a site/services to enable regeneration in the Borough.
Minutes:
It was proposed by Councillor C Barnard, Seconded by Councillor S Doran and resolved that the public and press be excluded during consideration of this item, in accordance with paragraph 3 of Schedule 12A of the Local Government Act 1972 (as amended) because it was likely to disclose information relating to the financial or business affairs of any particular person (including the authority holding that information) and in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information because, disclosure to the public would prejudice the financial position of the authority in the bidding process for the site/services by allowing other bidders to know the position of the Council. This in turn prejudices the Council by (i) distorting the bids process and (ii) prejudicing the opportunity for the Council to acquire a site/services to enable regeneration in the Borough.
The Committee approved an initial loan amount of £250,000, with the ability to approve further amounts, subject to it receiving a satisfactory business case from Knowle Green Estates (KGE). The Committee requested the attendance of representatives KGE’s board at a future Corporate Policy and Resources Committee.
See separate minutes.