Decision details

The Assistant Director – Property and Projects presented his report which set out the proposals for a Settlement Agreement and Payment Plan between Norfolk and Waveney Enterprise Services (NWES) and the Council relating to outstanding monies owed from the delivery of the King’s Lynn Innovation Centre (KLIC), Nar Ouse Way, King’s Lynn and sought authority to enter into the repayment arrangements as set out within the report.

RESOLVED:  1)         That the settlement agreement and payment plan terms between NWES and the Council as set out within the report be approved and delegated authority granted to the Assistant Director Property & Projects to progress the contract documentation in consultation with the council leader.

2)           That Authority be delegated to the Council’s legal services provider to draft and complete the necessary legal and contractual documentation necessary for the King’s Lynn Innovation Centre.

Reason for Decision

The Council during 2019 took possession of the King’s Lynn Innovation Centre (KLIC) as part payment of monies owed from the financing arrangements for the delivery of this facility.  The Settlement Agreement and Payment Plan proposals set out within this report provides the Council with a realistic approach to recouping the outstanding debt owed by Norfolk and Waveney Enterprise Services (NWES).