Agenda item

In relation to Bristol Holding Limited, Cabinet:

1. Approved the business plan of Bristol Holding Limited, in respect of financial year 2021/2022.

In relation to Bristol Waste Company Limited, Cabinet:

2. Approved the business plan of Bristol Waste Company Limited, in respect of financial year 2021/2022, including (subject to incorporation into the council budget for approval by Full Council) approval of additional loan funding of up to £2.8m to Bristol Waste Company Limited for the purposes of implementing Avonmouth Phase 2 (as outlined in the appendices), and to delegate authority to the s 151 officer, in consultation with the Cabinet Member for Finance, Governance and Performance, to agree the terms of such loan.
3. Noted that Bristol Waste Company Limited has an existing £12m loan facility with the council, as approved by Cabinet in December 2018, to support the replacement of its collection vehicle fleet and that £0.7m of that loan funding will be applied as a contribution towards the CAZ fleet replacement outlined in the exempt appendices.

In relation to Goram Homes Limited, Cabinet:

4. Approved the business plan of Goram Homes Limited, in respect of financial year 2021/2022, including approval of up to £10m additional loan funding (subject to incorporation into the council budget for approval by Full Council) for the purposes of the next development pipeline to be transferred from the council to Goram (“Pipeline 2”) and to delegate authority to the Executive Director: Growth & Regeneration, in consultation with the s 151 officer and the Cabinet Member for Finance, Governance and Performance, to agree the terms of this arrangement.

5.      Cabinet noted:

a)      there is an existing £3.3m working capital facility agreement in place between the council and Goram Homes in respect of Romney House and Baltic Wharf (“Pipeline 1”), pursuant to Cabinet approval granted in September 2018;

b)      the council has earmarked £3m as a potential capital contribution to Pipeline 1, pursuant to Cabinet approval granted in September 2018, although this remains subject to commercial negotiation.

c)      in respect of the land at Romney House that the council is transferring to Goram, the council has entered into a deferred payment arrangement (i.e. receipt of loan notes) in respect of the land value (£13m), which is due to be repaid by the close of financial year 2024/2025; and

d)      it is anticipated that a similar deferred payment arrangement will be entered into in respect of the Baltic Wharf site, but this remains subject to commercial negotiation.