Issue - decisions

Following submission of a full business case to Government, part of the Council’s area was designated as forming part of a freeport. On 10 May 2022 Council made a decision to join the East Midlands Freeport Company. A delegation was given to the Chief Executive to finalise and agree all necessary agreements to facilitate the incorporation of the company.

Since that decision was made significant progress has been made with achieving the key milestones in governance, infrastructure planning and strategic partnerships. The matter returned to Council on 18 June 2024 and that decision confirmed the delegation previously given to the Chief Executive.

The Council’s internal legal team, along with its external legal advisors, has since that time been engaged in dialogue with lawyers for Leicestershire County Council (as lead authority) in order to agree and finalise the relevant documents to join the company. The external legal advisors have advised that there are no concerns that the Council needs to be aware of in signing the members agreement. The agreement needs to be sealed and signed by the Monitoring Officer as the authorised signatory.

Other relevant documents have been provided to Councillor Merrie as the Council’s nominated director. The Monitoring Officer has reviewed these documents and confirmed that they are suitable to be signed.

The members agreement, along with accompanying documents need to be signed in order to facilitate the Council’s participation in the company.