Decision Maker: Eastbourne Borough Council Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
To enable the Council, through a new joint venture, to generate commercial revenues by brokering funding and related services to other local authorities and public sector agencies.
(Key decision):
(1) To delegate authority to the Chief Executive Officer, in consultation with the Assistant Director of Legal and Democratic Services, the Chief Finance Officer and the Portfolio Holder for Finance to undertake further work and detailed due diligence to establish a suitable vehicle to provide investment brokerage for public sector schemes.
(2) To approve General Fund budget allocation of up to £40k for external finance and legal costs associated with the detailed due diligence work.
Report author: Paul Turton
Publication date: 13/09/2018
Date of decision: 12/09/2018
Decided at meeting: 12/09/2018 - Eastbourne Borough Council Cabinet
Effective from: 21/09/2018
Accompanying Documents: