Purpose

Report
detailing the Council's commitment to maximise the economic impact
of the Airport, ensure the continuing operation of Cornwall Airport
Newquay, minimise the financial burden on the Cornish taxpayer and
attract investment to the Airport estate.

Content

DECISION:

 

RESOLVED:
 

1. 
That Cabinet approves the priority outcomes of the
Council’s approach to seeking an investment partner in the
Airport Estate, as set out in section 2 of the report.

2. 
That Cabinet approves the outline deal structure
which has been identified following market testing and receipt of
proposals, as set out in the exempt appendix 1 to the report, as a
framework for delivering those outcomes.

3. 
That Cabinet selects the preferred partner, as set
out in the exempt appendix to the report, following which officers
will progress negotiations, supported by the Council’s
appointed external professionals, to conclude an Exclusivity
Agreement and to subsequently develop a final Partnership Agreement
with the selected partner with the final Partnership Agreement to
come back to Cabinet for final approval.

4. 
That Cabinet jointly commissions a Land Utilisation
Blueprint with the preferred partner to co-develop a joint
agreement on the scope and phasing of development on the Airport
Estate.

 

 

Reason for the Decision: 
 
As
contained within the report.
 

Alternative options considered:
 
None
other than contained within the report.
 

Conflicts of interest declared:
 
None.
 

Dispensations granted in respect of a conflict of
interest:
 
N/A