Decision details

Cabinet to consider potential business case in respect of potential investment and determine the necessary actions subject to the outcome of those considerations.  The report will comprise exempt information and as such disclosure at this stage would be prejudicial to the Council’s interests.

26.1 Cabinet approved proposals with regard to an investment opportunity.  The opportunity would use the council’s financial status to leverage income meeting the needs of the medium term financial strategy in line with the council’s corporate plan and treasury management strategy.

26.2 Full details of the proposal, risk analysis, financial and legal implications were given in the confidential report to members.  Initial advice from treasury management advisors confirmed that the deal was sound and the risk managed, although it was noted that there was an amount of due diligence yet to be undertaken, including around powers, and any such arrangement would be dependent upon acceptable heads of terms being agreed.

Notes: (1) The full minute of the above matter is set out in the confidential section of these minutes.  The report remains confidential.

(2) Exempt information reasons: 3 - information relating to the financial or business affairs of any particular person (including the authority holding that information) and 5 (information in respect of which a claim to legal professional privilege could be maintained in legal proceedings).