Issue - decisions

Expansion of EFFECT Photonics onto Torbay Business Park

27/08/2021 - Expansion of EFFECT Photonics onto Torbay Business Park

That:

 

If the Levelling Up Fund application is successful

         i.        That delegated authority be given to the S151 officer in consultation with the Cabinet Member for Economic Regeneration, Tourism and Housing to satisfy himself that the Growth Fund criteria are met, and that there is a robust business case, including an agreement for lease, to authorise allocation from the Growth Fund to match fund the construction of the building described in the report, being a minimum of £683,759.
 

If the Levelling Up Fund application is unsuccessful then:

 

       ii.        That delegated authority be given to the S151 officer in consultation with the Cabinet Member for Economic Regeneration, Tourism and Housing to satisfy himself that the Growth Fund criteria are met, and that there is a robust business case, including an agreement for lease, to authorise allocation from the Growth Fund to construct in totality the building described in the report.

 

That delegated authority be given to the Director of Asset Management, Investment and Housing in consultation with the Cabinet Member for Economic Regeneration, Tourism and Housing to agree and finalise the detailed lease terms.