Decision details

The board considered a report of the Director of Commercial and Investment that sought approval of loan funding from the Commercial Investment Fund (CIF) for the sum specified in the report to the ‘Company’ for a term of 3 years to facilitate the refurbishment of c15,000 sqft of offices at the Gee Business Centre, Birmingham.

Ed Bradburn, West Midlands Development Capital, outlined the key aspects of the investment proposal detailed in the report.

Resolved that:

1.     The powers and the ability of the WMCA to make the proposed loan be noted;

2.     The loan investment for the sum specified in the report from the Commercial Investment Fund to the ‘Company’ for a term of 3 years, as per the terms and conditions set out in the report be approved and

3.     The negotiation and approval of the final terms of the loan be delegated to the Director of Commercial and Investment in consultation with the S.151 Officer and Monitoring Officer be agreed.

[Councillor Sleigh declared a personal interest in this matter having previously worked with Robert Lissner (member of the Company’s management team) but had not been in contact with Mr Lissner since 2017]