Decision details

Agreed

RECOMMENDED that Council approve:-

(1)  £300,000 for the development of three business cases to explore the feasibility of creating the new subsidiaries as set out in the report;

(2)  £60,000 for a new Finance Manager – Commercial to support Exeter City Group and the wider Council Companies, to be funded by the Companies themselves; and

(3)  delegating authority to the Chief Executive & Growth Director, in consultation with the Section 151 Officer (or Deputy) and Leader of the Council (or Deputy), to give final approval to proceed once the Council’s financial position is secure.

Reason for Decision:

As set out in the report.