Decision - Local Investment Opportunity

Local Investment Opportunity

Decision Maker: Cabinet

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Decision:

That the decision in respect of a local investment opportunity 9/01/20 as set out the Exempt Cabinet Minute 93, be approved.

(Note: the decisions in respect of Local Investment Opportunity 9/01/20 are restricted due to exempt information contained within the decisions.)

Reasons for the decision:

To enable the Council to utilise the Economic Growth Fund or the Investment and Regeneration Fund in order to support a local investment opportunity in Torbay.

Alternative options considered:

None.

Implementation:

The decision in respect of Local Investment Opportunity 9/01/20 will come into force immediately as the decision maker has decided that any delay likely to be caused by the call-in process would prejudice the Council’s interest. The Overview and Scrutiny Co-ordinator was consulted on 3 February 2020.

Information:

The Cabinet considered the submitted Exempt Report on a local investment opportunity. The Cabinet considered the proposal against the criteria of the Economic Growth Fund and the criteria of the Investment and Regeneration Fund.

Councillor Cowell proposed and Councillor Long seconded a motion which was agreed unanimously by the Cabinet as set out above.

Interests and Nature of Interests Declared:

None.

Publication date: 06/02/2020

Date of decision: 04/02/2020