Decision Maker: Combined Authority Board
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Amend the conditionality given with the CPCA
shareholder approval granted by CPCA Board in March 2023 that
Anglia Ruskin University(ARU) become a shareholder in Peterborough
R&D Property Company Limited (PropCo2) and that ARU be granted
a head lease of the property known as Phase 2 of the ARU
Peterborough development
It was resolved to:
A Approve that the CPCA complete a shareholder’s agreement with PropCo2 and ARU including the issuance of 3 million shares to the Combined Authority and up to 1.5 million shares to ARU in return for cash or an in-kind investment of up to £1.5m, subject to the final version of the shareholder agreement being approved by the Monitoring Officer in consultation with the Chief Finance Officer and the Executive Director Economy and Growth
B Approve that the CPCA agree to provide shareholder approval for PropCo2 to enter into an agreement to lease the whole of the Phase 2 building to Anglia Ruskin Enterprise Limited subject to the final version of the lease being approved by the Monitoring Officer in consultation with the Chief Finance Officer and the Executive Director Economy and Growth
Report author: Jim Cunningham
Publication date: 18/11/2024
Date of decision: 13/11/2024
Decided at meeting: 13/11/2024 - Combined Authority Board
Effective from: 27/11/2024
Accompanying Documents: