Decision details

The Committee gave consideration to a report providing an update on the Lorn Arc initiative.  The report dealt with proposed amendments to the Tax Incremental Finance Agreement (TIF) between the Council and the Scottish Government. The report provided detailed updates on the current live projects at Dunbeg and Oban Airport.

Decision

The Policy and Resources Committee –

1.    Noted and endorsed that officers would continue to negotiate with Scottish Government to seek extension of the TIF project completion and debt repayment deadlines.

2.    Noted the progress made relating to Dunbeg Gateway Features and Halfway House Roundabout.

3.    Agreed that officers would develop a business case for further Council investment at the Oban Airport Business Park site for the development of a new headquarters office / hanger building to be leased on completion to TSL Contractors Limited (TSL) including utilising the remainder of funding previously approved by the P&R Committee for Oban Airport Business Park.

4.    Agreed that officers would continue to progress with the other innovative proposals for the Oban Airport Business Park while the funding and tender bids were awaiting conclusion.

5.    Noted that TSL would concurrently progress with the planning process in respect of the proposed development.

6.    Noted the re-establishment of the Dunbeg Corridor Working Group that had held its first meeting with key stakeholders.

(Reference:  Report by Executive Director with responsibility for Development and Economic Growth dated 18 January 2022, submitted)