Decision

The
Executive resolved as follows:
 

1.               
To agree that Appendices 3a,3b, 3c, 3d, 3e, 3f and
3g to the Executive report, are not for publication by virtue of
Paragraph 3 of Part 1 of Schedule 12A of the Local Government Act
1972 as they include detailed costings that enable the Enterprise
Zone to be viable. The publication of such information could
prejudice continuing and future negotiations.
 
2.  To note:
 

a)    
The progress made on the delivery of the Enterprise
Zone Masterplan including supporting more than 2,700 new jobs to
the end of December 2024.
 

b)    
The total estimated cumulative expenditure from
April 2016 to end of March 2025 of £33.99m.
 

c)    
That funding approved on 5 December 2023 remains
sufficient at £54.17m to cover all anticipated expenditure to
complete the delivery of the Eastern Gateway and Airport East
highway and utility provision up to 31 March 2026.
 

d)    
The forecast expenditure budgets set out in Appendix
3a, to the Executive report, to the end of financial year 2025/26
(£51.08m) (within the current approval of £54.17m) and
the increased whole life cumulative expenditure estimate of
£86.64m at present values to March 2041, resulting in
an  estimated whole life shortfall of
£1.97m at today’s prices.
 

e)    
That the anticipated cost of prudential borrowing
required to meet approved expenditure to complete Eastern Gateway
and related expenditure will exceed the net income from retained
rates growth and lands sales income over the next five years and
will require additional funding to be identified.
 

f)     
The higher levels of financial risk associated with
the overall whole life expenditure and income forecasts, given the
length of the project and impact of external influences.
 

g)    
The potential for the Enterprise Zone to support
more than 5,000 job opportunities across the Fylde coast and
generate circa £2bn of cumulative Gross Value Added and
achieve a whole life operating surplus
 

h)    
The project risk register set out in confidential
Appendix 3g, to the Executive report.
 
 

To
approve:

 

a)    
The authorisation of the Director of Communications
and Regeneration and Director of Resources to explore all methods
of mitigating the forecast cash flow shortfall as shown in Appendix
3c, to the Executive report, and seek any subsequent approvals that
may be necessary.
 

b)    
The approach to be adopted in relation to the
progression of Silicon Sands set out in confidential Appendix 3d,
to the Executive report, including works and expenditure
incorporated within the Delivery Plan cost model (Appendix 3a, to
the Executive report,).
 

c)    
The submission of an Expression of Interest to the
Department of Science Innovation and Technology, for the
designation of Silicon Sands as an AI Growth Zone.
 

d)    
The approach in relation to the investment and
development of Airport infrastructure required to release land for
the development of Silicon Sands, with a further detailed report
seeking approval to specific 
expenditure to be submitted to a future meeting of the Executive.
The latest version of the Airport redevelopment masterplan is
included as Appendix 3e, to the Executive report.
 

e)    
The strategy for progressing the disposal of the
Eastern Gateway development plots referenced in paragraph 3.6 and
in confidential Appendix 3f, to the Executive report,.
 

f)     
The authorisation of the Chief Executive, after
consultation with the Board and Managing Director of Blackpool
Airport Operations Ltd, to engage fully with the developers of
Offshore windfarms to protect the interests of the Council,
maximise the benefits from the schemes for the Fylde coast economy
and minimise any operational disruption to the current and future
operations of Blackpool Airport resulting from the routing of
transmission cables through the airport estate.
 

g)    
The progression of a full planning application for
the development a solar farm on 21 Ha land to the south of
Blackpool Airport  56 f
 

h)    
The Head of Legal Services entering into such
contracts/documents including leases, wayleaves, easements and
Non-Disclosure Agreements as may be necessary to implement these
recommendations and to engage external legal advisors as may be
required and appropriate to progress the Enterprise
Zone.