Purpose

1.1 That in accordance with Cabinet Decision
October 2024 (Item 65) the Assistant Chief Executive, after
consultation with the Leader, Cabinet Member for Change and
Improvement, Cabinet Member for Resources, Cabinet Member for Good
Growth, Chief Executive Officer, S151 Officer and Monitoring
Officer, approves execution of the Deed of Variation to fund Thames
Freeport Limited eligible operating expenses for the delivery of
Thames Freeport objectives to 31 May 2025.

1.2 To note that once the Deed of Variation is executed the Council
will be required to make a payment of £971,835.20 to Thames
Freeport Limited funded from ring fenced s31 grant paid to the
Council by the Ministry of Housing, Communities and Local
Government.