Decision Maker: Cabinet

Outcome: Recommendations Approved

Is Key Decision?: No

Is Callable In?: No

Date of Decision: March 18, 2025

Purpose: The purpose of this report is to provide Members with an update in respect of the financial and operational performance of the Rochdale Riverside Retail & Leisure scheme

Content: The Cabinet considered a report of the Director of Corporate Services, which sought to inform of the 2023/24 year-end financial position as at 31 March 2024 for Rochdale Riverside Retail & Leisure Development and the current forecast financial position as at Quarter 3 2024/25 for Rochdale Riverside Retail & Leisure Development. The report also sought to inform of the 10-year income & expenditure model sensitivity analysis, to enable understanding of financial performance, including business risks & opportunities to aid effective financial management.   Additionally, the report sought to ensure that Members had full knowledge with regard to the financial impact of Rochdale Riverside when considering decisions around future capital investments for the Borough.   The Head of Commercial Finance was in attendance to present the information and to address the questions and the comments of the Cabinet Members.   Resolved that the content of the report be noted.   Reason for decision: Members should be kept updated on the financial position of the authority, to ensure that budget pressures were identified and corrective action was taken, to ensure that financial resources continue to be spent in line with the budget, and to enable decisions to be taken in full knowledge of all relevant financial implications.   To ensure Members were aware of the anticipated financial performance of the Rochdale Riverside scheme over the next 10 years, including an understanding of business risk and opportunities.   Alternatives considered and rejected: There were no alternatives to consider for the purposes of this report.