Issue - meetings

Harlow Investment Fund

Meeting: 25/02/2021 - Cabinet (Item 103)

103 Harlow Investment Fund pdf icon PDF 166 KB

Additional documents:

Decision:

RESOLVED that Cabinet agrees that:

 

A     In principle that the Council will invest £5 million in the Harlow Town Centre Investment Fund.

 

B    The Chief Executive, in consultation with the Leader of the Council, enters into an agreement to subscribe to purchase shares in the Harlow Investment Fund Limited Partnership and such other entities as may be required.

 

C    The Chief Executive, in consultation with the Leader of the Council, will nominate a representative to the Board of the General Partner.

 

D    Agreement of all operational matters and approval of the draft Board documents are delegated to the Chief Executive in consultation with the Leader of the Council.

Minutes:

Cabinet received a report which sought approval of in principle for the Council to invest £5 million in the Harlow Town Centre Investment Fund.

 

Proposed by Councillor Mark Ingall (seconded by Councillor Mike Danvers) it was:

 

RESOLVED that Cabinet agrees that:

 

A     In principle that the Council will invest £5 million in the Harlow Town Centre Investment Fund.

 

B    The Chief Executive, in consultation with the Leader of the Council, enters into an agreement to subscribe to purchase shares in the Harlow Investment Fund Limited Partnership and such other entities as may be required.

 

C    The Chief Executive, in consultation with the Leader of the Council, will nominate a representative to the Board of the General Partner.

 

D    Agreement of all operational matters and approval of the draft Board documents are delegated to the Chief Executive in consultation with the Leader of the Council.