Decision details

Authority was sought and received in March 2007 under decision 07/00936 to commit KCC to entering a Joint Venture Vehicle incorporating Kent County Council’s landholdings at Manston Park and Eurokent Business Park, Thanet and Thanet District Council’s landholdings at Eurokent.

In 2010 further authority was sought to reprofile the loan and this was received and recorded under decision 10/01499.

In 2014 further re-profiling is necessary to ensure that EKO is able to build upon current momentum and be best placed to move forward on the development of both sites.  The Leader has taken a further decision under 14/00053.

The Leader of Kent County Council has agreed to the:

Endorsement of KCC’s short term laon to East Kent Opportunities Limited Partnership to be repaid during 2010-2011

Agreement that the Eurokent Spine Road costs, estimated at £5.4m plus interest, be fully repaid by EKO before the end of 2013-2014 financial year; and

Agreement that the Director of Economic Development, in consultation with the Director of Law and Governance, determines the detailed arrangements of the repayment schedule for the Eurokent Spine Road costs with East Kent Opportunitis LLP