Issue - decisions

As Cabinet Member for Economic Development, I agree to:

Delegate the authority to the Director of Economic Development to enter into the relevant contracts and legal agreements required to implement this decision:

• Returning the recovered and uncommitted loan and grant funds related to the Marsh Million scheme to the original co-funders (Magnox/NDA, KCC, Ashford Borough Council and Folkestone & Hythe District Council) on a pro-rata basis calculated on their original contributions.
• Standing down the existing Marsh Board, the decision-making Board for the scheme.

Authorising KCC to act as the managing authority for the recovery of the outstanding loan repayments until such time as these loans are fully recovered or are no longer recoverable.