Brydge’s Court (Part II Item)
Reort by Carlton Brand, Corporate Director
Supporting documents:
Minutes:
Councillor Fleur de Rhé-Philipe, Cabinet Member for Economic Development, Skills, Strategic Transport and Strategic Property, presented the report which provided an update on the performance of the council owned and managed business park at Brydges Court, Ludgershall, and seek approval for the proposed method of repaying the Swindon and Wiltshire Local Enterprise Partnership (SWLEP) provided loan under the Growing Places Infrastructure Fund (GPIF).
Resolved
To delegate authority to the Associate Director for Economic Development and Planning, in consultation with the Cabinet Member for Economic Development, Skills, Strategic Transport and Strategic Property, to enter into negotiations with the SWLEP to agree a reasonable extension to the repayment term of the GPIF funding agreement, and to enable the Council to lease or sell the remaining unoccupied units on the scheme.
Reasons for Decision:
It is necessary for the Council to renegotiate the term of the existing GPIF agreement with the SWLEP to enable unoccupied units to be let or sold so that repayment of the grant can be made without incurring additional revenue pressure to the Council, while ensuring the economic benefits of the Brydges Court scheme at Ludgershall.