Agenda item

The Council considered a report which provided information on Bute Islands Foods Ltd (BIF), its planned expansion/development and its request for support from the Inward Investment Fund.

Decision

1. Note the contents of the report and approved, in principle, the award of £100,000 from the Inward Investment Fund to support the first phase of development by BIF.

2. Authorised the Executive Director of Development and Infrastructure in consultation with the Executive Director of Customer Services and the Head of Strategic Finance, to issue an offer to grant these funds to BIF on such terms and conditions as the Executive Director of Development and Infrastructure may reasonably determine. In particular, subject to BIF being successful in obtaining planning permission for the development; a condition requiring repayment of the grant funding in the event that BIF fail to maintain the investment/jobs created by the grant funding on the Island of Bute for a minimum of 3 years after the completion of the development; and such other terms and conditions as may be required in order for the Council to comply with all legislative provisions relating to the granting of such State Aid.

(Ref: Report by the Executive Director of Development and Infrastructure dated 28 May 2018, submitted)