Decision Maker:

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: Yes

Date of Decision: March 17, 2025

Purpose:

Content: The Executive resolved as follows:   1.                To agree that Appendices 3a,3b, 3c, 3d, 3e, 3f and 3g to the Executive report, are not for publication by virtue of Paragraph 3 of Part 1 of Schedule 12A of the Local Government Act 1972 as they include detailed costings that enable the Enterprise Zone to be viable. The publication of such information could prejudice continuing and future negotiations.   2.  To note:   a)     The progress made on the delivery of the Enterprise Zone Masterplan including supporting more than 2,700 new jobs to the end of December 2024.   b)     The total estimated cumulative expenditure from April 2016 to end of March 2025 of £33.99m.   c)     That funding approved on 5 December 2023 remains sufficient at £54.17m to cover all anticipated expenditure to complete the delivery of the Eastern Gateway and Airport East highway and utility provision up to 31 March 2026.   d)     The forecast expenditure budgets set out in Appendix 3a, to the Executive report, to the end of financial year 2025/26 (£51.08m) (within the current approval of £54.17m) and the increased whole life cumulative expenditure estimate of £86.64m at present values to March 2041, resulting in an  estimated whole life shortfall of £1.97m at today’s prices.   e)     That the anticipated cost of prudential borrowing required to meet approved expenditure to complete Eastern Gateway and related expenditure will exceed the net income from retained rates growth and lands sales income over the next five years and will require additional funding to be identified.   f)      The higher levels of financial risk associated with the overall whole life expenditure and income forecasts, given the length of the project and impact of external influences.   g)     The potential for the Enterprise Zone to support more than 5,000 job opportunities across the Fylde coast and generate circa £2bn of cumulative Gross Value Added and achieve a whole life operating surplus   h)     The project risk register set out in confidential Appendix 3g, to the Executive report.     To approve:   a)     The authorisation of the Director of Communications and Regeneration and Director of Resources to explore all methods of mitigating the forecast cash flow shortfall as shown in Appendix 3c, to the Executive report, and seek any subsequent approvals that may be necessary.   b)     The approach to be adopted in relation to the progression of Silicon Sands set out in confidential Appendix 3d, to the Executive report, including works and expenditure incorporated within the Delivery Plan cost model (Appendix 3a, to the Executive report,).   c)     The submission of an Expression of Interest to the Department of Science Innovation and Technology, for the designation of Silicon Sands as an AI Growth Zone.   d)     The approach in relation to the investment and development of Airport infrastructure required to release land for the development of Silicon Sands, with a further detailed report seeking approval to specific  expenditure to be submitted to a future meeting of the Executive. The latest version of the Airport redevelopment masterplan is included as Appendix 3e, to the Executive report.   e)     The strategy for progressing the disposal of the Eastern Gateway development plots referenced in paragraph 3.6 and in confidential Appendix 3f, to the Executive report,.   f)      The authorisation of the Chief Executive, after consultation with the Board and Managing Director of Blackpool Airport Operations Ltd, to engage fully with the developers of Offshore windfarms to protect the interests of the Council, maximise the benefits from the schemes for the Fylde coast economy and minimise any operational disruption to the current and future operations of Blackpool Airport resulting from the routing of transmission cables through the airport estate.   g)     The progression of a full planning application for the development a solar farm on 21 Ha land to the south of Blackpool Airport  56 f   h)     The Head of Legal Services entering into such contracts/documents including leases, wayleaves, easements and Non-Disclosure Agreements as may be necessary to implement these recommendations and to engage external legal advisors as may be required and appropriate to progress the Enterprise Zone.