Decisions for issue i360: Covid-19 Support

RESOLVED:

(1)             That it be agreed to defer £150,000 from the December 2019 payment in addition to the £880,304.25 which the Policy & Resources Committee agreed to defer on 5^thDecember 2019, on the same terms;

(2)             That it be agreed to defer the loan payments due in June and December 2020, but request that any funds over and above the cashflow necessary to keep the attraction operational are paid to the Council in part payment of the sums owed;

(3)             That the establishment of a pattern of regular meetings and information provision between the i360 management and board and the i360 Member Working Group, as set out at section 3.14 of the report be agreed; and

(4)             That it be noted that officers have not progressed the loan restructure or completed the novation of the Coast to Capital Local Enterprise Partnership (LEP) loan agreed at Policy & Resources Committee in December 2019 due to the impact of the Covid-19 pandemic on the i360 and that they will progress these once the attraction is able to reopen.