Decision details

Approval of LEP loan to accelerate the development of the Gateway 45 area within the Leeds Enterprise Zone.

In respect of LEP Loan - Gateway 45 - Decision Point 4 (Full Business Case)

(i)         That the Gateway 45 loan proceeds through Decision Point 4 and the work commences on Activity 5 (Full Business Case with Finalise costs).

(ii)        That an indicative approval to the total loan value of £3.3m be given, with ultimate approval to the loan being granted once the project has progressed through the Assurance Process to Decision Point 5 (Full Business Case with Finalised Costs).

(iii)       That Leeds City Council are instructed that the current charge held as security for the earlier £3m LEP loan is released and imposed solely on part of the site.

(iv)       That the approval of the loan agreement at Decision Point 5 be made through the delegation to WYCA’s Managing Director, subject to the scheme remaining within the tolerances set out above.