Decisions for issue Brighton i360 - Decision on Future

1)           Cabinet agrees to release the security on its £51m loan debt and rolled-up interest to the Buyer. In return, the city council will receive a future share of revenue, as set out in the Part 2 report.

2)           Cabinet delegates authority to the Corporate Director for Operations, following consultation with the Cabinet Member for Finance and City Regeneration, to complete negotiations and any legal documentation required to give effect to recommendation 2.1 above.

3)           Cabinet agrees to commission an external independent investigation to understand the circumstances of and lessons from the council’s original decision to loan public money to deliver the Brighton i360.