Issue - decisions

The Leader presented the report.

During debate Councillor Read asked for clarity regarding the ear-marked reserve for ECL, and the report for ECL and what that would be used for. She asked for comment on Exeter Science Park financial viability, and their capacity to plan for future development as stated in the report.

The Strategic Director for Corporate Resources responded making the following points:

• the ear-marked reserve was ECL property support and supported the ECC funding of sales of land to ECL. ECL had been wound down but sales of land had continued and the ear-marked reserve was now being used for its intended purpose; and
• ESVL loss still required high level occupation to break even, and it was just below that at the moment which resulted in loss. The onus was on shareholders to work with the company to enable propositions to come forward.

The Leader moved the recommendation, seconded by Councillor Wright and following a unanimous vote was CARRIED.