Decision Maker: Liverpool City Region Combined Authority
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Knowsley Metropolitan Borough Council is undertaking the acquistion and securing development of sites within Kirkby town centre to support regeneration.
LCR Combined Authority is asked to approve the financal investment from the Strategic Investment Fund to support this project.
The Liverpool City Region Combined Authority:-
(i) Approved the provision of funding of £10,000,000 from the Strategic Investment Fund (“SIF”) in support of the acquisition by KMBC of land owned by St Modwen in Kirkby Town Centre and the development of the proposed supermarket/retail scheme. Approved, in principle, making available a further £5,000,000 from the SIF to support further land acquisition or development by KMBC to regenerate Kirkby Town Centre, and noted that the release of any such funding will be subject to Knowsley Metropolitan Borough Council setting out a satisfactory business case, duly considered in accordance with paragraph 3.9; and
(ii) Granted delegated authority to the Director of Commercial Development and Investment to finalise negotiations of detailed funding terms and associated agreements in consultation with the Combined Authority Monitoring Officer and Combined Authority Treasurer.
Publication date: 06/12/2019
Date of decision: 06/12/2019
Effective from: 14/12/2019