The Executive Meeting considered a report updating on progress with the implementation of the Manchester Airport Group’s proposed Strategy for growth and seeking approval to take all the necessary steps to implement the Strategic Review.
The Executive Meeting, then agreed that (Councillor Stuart Bodsworth abstained):-
· having considered the recommendations made by the AGMA Executive Board at its meeting on 14 December 2012 approved the recommendations contained in the Executive report (which was exempt from publication)
· the decision of the of the Leader of the Council, Chief Executive and Monitoring Officer to exempt the decision from call in (on the grounds that any delay caused by call-in would delay the successful implementation of the Strategic Review and would seriously prejudice the legal or financial position of the Council or the interests of the residents of Stockport) be endorsed.
[NOTES:
(1) The Leader of the Council (Chair) was of the opinion that this item, although not included on the agenda, should be considered as a matter of urgency in accordance with Section 100B(4)(b) of the Local Government Act 1972 in order that a decision could be taken as to not do so would seriously prejudice the legal or financial position of the Council or the interests of the residents of Stockport
(2) The report and appendices contained information ‘not for publication’ by virtue of Category 3 of Schedule 12A of the Local Government Act 1972 as amended as it contained ‘information relating to the financial or business affairs of any particular person (including the authority)’. Copies of the documents were circulated to executive councillors only)
(3) In accordance with the Regulation 5(6) of the Local Authorities (Executive Arrangements)(Meetings and Access to Information)(England) Regulations 2012, the Chair of the Corporate, Resource Management & Governance Scrutiny Committee had been informed that this item contained confidential information and would be need to be considered in private, but that it had not been possible to give the requisite 28 clear days’ notice of the intention to hold the meeting in private. The Chair has confirmed that he agreed that the making of the decision was urgent and could not reasonably be deferred and consented to waiving of the requirements for notice.]
The Executive Meeting considered an update on the Manchester Airport Group Strategic Review for growth, previously considered by the Executive on 12 March 2012, and has agreed to
· note the progress in implementing the strategy agreed by the Executive on 12 March 2012;
· the Manchester Airport Group’s (MAG) recommendation for the selection of IFM as the preferred investor, being the most favourable offer;
· the appointment of KPMG to act as financial advisor to the ten local authority shareholders in relation to the restructuring of MAG and the implementation of the Strategy;
· note that a further report will be submitted to the Executive before the Strategy is implemented;
· the recommendations in the Confidential Appendix A.
(Note: this report included information ‘Not for Publication’ contained within its appendix by virtue of category 3 ‘information relating to the financial or business affairs of any particular person (including the authority)’ of Schedule 12A of the Local Government Act 1972 (as amended))