Decision details

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.

None.

None.