Decision details

Weir Mill (E&R74)

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes


Proposed measures to support the Weir Mill project.


The Cabinet has considered a proposal to provide debt finance to fund the construction work to deliver the proposed redevelopment at Weir Mill and to dispose of land holding to facilitate the delivery of the scheme and has then:-


(1) Approved the proposed development finance facility to support the delivery of the Weir Mill scheme as outlined in the report and appendices;


(2) Delegated authority to the Deputy Chief Executive, Place, and the Deputy Chief Executive, Corporate and Support Services, in consultation with the Cabinet Members for Economy & Regeneration; Resources, Commissioning & Governance and Sustainable Stockport to:-


(i)         finalise the terms of the proposed facility and formally enter into the legal agreements and banking documentation required to give effect to the terms set out in this report;


(ii)        enter into such agreements to support the Council with external resources to facilitate and monitor such agreements and banking documentation;


(3) Authorised the disposal of the Triangular Land;


(4) Delegated authority to the Strategic Head of Service (Legal & Democratic Governance) to do all things necessary or incidental to the implementation of the above-mentioned resolutions.

Alternative options considered:


Interests and Nature of Interests Declared:


Reason Key: Significant expenditure or savings;

Wards Affected: Brinnington & Central;

Equality and/or Environmental Impact Assessment: Yes

Decision Reference: CAB338

Declarations or conflicts of Interest: None.

Forward Plan Reference: E&R74

Other reasons / organisations consulted

Portfolio holder, CLT, E&R Scrutiny, Cabinet

Contact: Paul Richards, Director of Development and Regeneration Email: Tel: 0161-474-2940.

Report author: Robert Goulsbra

Publication date: 03/11/2021

Date of decision: 02/11/2021

Decided at meeting: 02/11/2021 - Cabinet

Effective from: 10/11/2021

Accompanying Documents: