Issue - meetings
Mercury Land Holdings Business Plan Update 2025/26
Meeting: 05/02/2025 - Cabinet (Item 57)
57 Mercury Land Holdings Business Plan Update 2025/26 
PDF 433 KB
Additional documents:
- 11.1 MLH 2 Exempt Appendix 1 - Exempt Part of the February Cabinet report Final
- 11.2 MLH 3. - MLH Exempt Appendix 2 - Commercial Review of Proposed MLH Schemes (Final)
- 11.3 MLH 4. - MLH Exempt Appendix 3 - MLH Business Plan Update 2025-2026 (Final)
Decision:
Cabinet
1. Approved the Mercury Land Holdings Limited Business Plan Update (see Exempt Appendix 3).
2. Agreed to delegate authority to the Cabinet Member for Regeneration & Development, in consultation with the S151 Officer, the Strategic Director of Place and the Monitoring Officer, to approve the detailed business cases, related viability assessments and funding requirements for the individual schemes noted within the Business Plan as they may be presented during the business plan period, including the authority to enter into all relevant agreements to give effect to the schemes.
3. Agreed that the previously allocated funding in the July 2023-2026 Business Plan to MLH, up to a maximum of £270.1 million, is reallocated to projects as updated in the Exempt Agenda, through a combination of equity investment and Subsidy Control compliant loans.
4. Noted that the individual schemes are subject to detailed business cases to be approved under delegated authority, as set out in Recommendation 2.
5. Agreed to delegate to the Strategic Director of Resources, in consultation with the Assistant Director of Regeneration and Place Shaping, and the Deputy Director of Legal and Governance, the authority to determine the principles and processes by which any assets shall be disposed of and the terms of disposal to MLH.
Minutes:
Report: Mercury Land Holdings (MLH) Business Plan and Budget Update 2025/26.
Presented by: Councillor Ray Morgon, Leader of the Council.
Summary: (response to Overview & Scrutiny comment, at end of this summary)
This report seeks Cabinet approval for the updated MLH Business Plan 2025/6 and its associated financial commitments. The Business ... view the full minutes text for item 57