Issue - meetings

To consider a joint report of the Leader of the Council and the Cabinet Member for Reform & Governance.

Manchester Airport is seeking to bring forward a Car Parking investment scheme via funding through an additional equity investment into Manchester Airport Group (MAG). This report sets out the background and detail of the proposal.

(NOTE: The detail of the investment proposal and due diligence undertaken is provided in the ‘Not for publication’ that contains ‘information relating to the financial and business affairs of a particular persons, including the authority’ that has been circulated to cabinet members only.)

The Cabinet is recommended to consider the ‘exempt from publication’ report and approve the recommendations contained therein.

Officer contact: Michael Cullen, 0161 474 4631, michael.cullen@stockport.gov.uk

The Leader of the Council and Cabinet Member for Policy, Finance & Devolution submitted a report (copies of which had been circulated) inviting the Cabinet to consider a proposals for investment in a car parking scheme at Manchester Airport, financed through additional equity investment into Manchester Airport Group.

(Note: the report contained information ‘not for publication’ that was circulated to cabinet members only).

Cabinet members discussed the green credentials of the proposals and efforts of the Airport Group to increase opportunities for visitors to access the airport via public transport.

RESOLVED – (1) That in relation to the Manchester Airport Car Park investment the recommendations contained in the ‘not for publication’ report (‘Part B’) be approved.

(2) That the Borough Treasurer be requested to seek further information from the Manchester Airport Group in relation to proposals for ‘future proofing’ this development against changes in vehicle specifications and regulations.

To consider a report of the Borough Treasurer

Manchester Airport is seeking to bring forward a Car Parking investment scheme via funding through an additional equity investment into Manchester Airport Group (MAG).

(NOTE: The detail of the investment proposal and due diligence undertaken is provided in the ‘Not for publication’ that contains ‘information relating to the financial and business affairs of a particular persons, including the authority’ that has been circulated to committee members only.)

The Scrutiny Committee is invited to consider the report and comment on the proposals prior to its consideration by the Cabinet.

Officer contact: Michael Cullen, 0161 474 4631, michael.cullen@stockport.gov.uk

The Borough Treasurer submitted a report (copies of which had been circulated) inviting the Scrutiny Committee to consider a proposal from the Manchester Airport Group for a car parking investment scheme funded through an additional equity investment into Manchester Airport Group (MAG).

(NOTE: The detail of the investment proposal and due diligence undertaken is provided in the ‘Not for publication’ that contains ‘information relating to the financial and business affairs of a particular persons, including the authority’ that has been circulated to scrutiny committee members only.)

RESOLVED – (1) That the report be noted.

(2) That the Borough Treasurer be requested to arrange for a further report to a future meeting in relation to the Manchester Airport Group, to include further information in relation to the Group’s efforts to reduce its carbon footprint and reduce emissions.