Resolved –

(1)  That working capital of up to £1.27m (which is within limits previously agreed by Cabinet in February 2018) be made available by way of loan to Wirral Growth Company LLP (WGC) on an equal contributory basis with Muse Developments Ltd (Muse) in advance of an agreed Partnership Business Plan. The agreement is provided on the premise that in each case the Director of Finance is satisfied that the expenditure is reasonable and is necessary for WGC to incur in advance of any Indicative Drawdown Profile being agreed in an approved Partnership Business Plan or relevant Site Development Plan.

(2)  That the milestone date for the submission of the Partnership Business Plan by Muse (as Development Manager) to WGC Board for its approval be extended by agreement with Muse to a date no later than 30 November, 2019.

(3)  That the milestone date for the approval by the Council of the Partnership Business Plan adopted by WGC be extended by agreement with Muse to a date no later than 31 January, 2020.

(4)  That the approval of the Council and Muse to the Final Site Development Plan for Phase 1 of the Birkenhead Commercial District be extended by agreement with Muse from 21 to 24 months from the date of the execution of the Partnership Agreement (19 March, 2019).