The Leader of Kent County Councilhas agreed
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(2)
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that the Eurokent Spine Road costs, estimated at £5.4m plus interest, be equally shared with Thanet District Council going forward; and
that for the remaining sum and that owing to the outstanding loans for Eurokent Spine Road and from the Regeneration Fund to be fully repaid by East Kent Opportunities LLP before by the end of the 2016-2017 financial year or sooner if the LLP’s income stream support it |
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The Executive Scheme of Delegation for Officers set out in Appendix 2 Part 4 of the Constitution (and the directorate schemes of sub-delegation made thereunder) provides the governance pathway for the implementation of this decision by officers. In this instance, the Director of Economic Development (on behalf of the Corporate Director Growth, Environment & Transport) will take all such steps as are necessary to implement the decision, including determination of the detailed arrangements of the repayments schedule for the Eurokent Spine Road costs with Thanet District Council and East Kent Opportunities LLP.
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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
The Leader of the County Council has agreed:
That the County Councils commits in principle to enter into a Joint Venture Vehicle incorporating the County Council’s landholdings at Manston Park and Eurokent Business Parks, Thanet and Thanet District Council land holdings at Eurokent; and
That the Managing Director of Environment and Regeneration be authorised to negotiate, agree terms and execute and necessary documents including a Collaboration Agreement and Joint Venture Agreement, and determine the precise nature of the vehicle, on behalf of the County Council