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BRIGHTON AND HOVE CITY COUNCIL
POLICY & RESOURCES COMMITTEE
Agenda Item 54(b)
16 October 2014
WRITTEN QUESTIONS FROM MEMBERS OF THE PUBLIC
Valerie Paynter

Brighton & Hove City Council
WRITTEN QUESTIONS FROM MEMBERS OF THE PUBLIC
A period of not more than fifteen minutes shall be allowed for questions submitted by a member of the public who either lives or works in the area of the authority at each
ordinary meeting of the Committee.

Every question shall be put and answered without discussion, but the person to whom a question has been put may decline to answer. The person who asked the question may ask one relevant supplementary question, which shall be put and answered without discussion.

The following written question has been received from a member of the public.

(a) Valerie Paynter “Earlier this year, when private developers Marks Barfield failed to achieve funding to put up their i360 viewing tower on our seafront, Policy & Resources agreed to borrow £36m from the Public Works Loan Board to lend on to them to get it built, but, in hopes too of profiting from the loan differential. Loans from the Public Works Loan Board are secured loans. What security will Brighton & Hove City Council formally use to guarantee repayment of the £36m?”

Reply from Councillor J. Kitcat, Leader of the Council

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