Purpose

Approval is sought to support an opportunity for manufacturing expansion in the Liverpool City Region.

Decision

RESOLVED – That in relation to the Strategic Investment to support expansion of manufacturing capacity in the Liverpool City Region:

(a)         The progression of the proposed loan as set out in section 3 of the report in accordance with the draft heads of terms attached at Appendix 1, subject to satisfactory competition of due diligence be approved; and

(b)         Delegated authority be granted to the Executive Director – Investment and Delivery in consultation with the Executive Director Resources and Monitoring Officer to finalise the terms of the loan and enter into the legal agreements necessary to give effect to the proposed intervention.