The report of the Head of Economy and Tourism and Director Economy and Development was submitted seeking approval for an investment of £750,000 in the development of the proposed science park as a contribution towards the equity of at least £3 million required to progress the first stage of the project.
Scrutiny Committee – Economy considered the report at their meeting on 7 June 2007 and the comments and support of members were noted. Executive members enquired whether control of the Science Park would be proportionate to the contributions made by partners. They also emphasised their desire for “Exeter” to be incorporated in the title of the Park. The Director Economy and Development noted the comments of members and stated that a report back would be made on the company structure in due course.
RECOMMENDED that the City Council approves an investment of £750,000 in the development of the science park as a contribution towards the equity required to progress the first stage of the project.
(Report circulated)