The “Not For Publication” details as officially minuted by WLBC indicate a level of secrecy that is beyond belief for a publicly owned/funded company.
“Solicitors have given clear advice that the Development Company can be a private entity and will not fall under FoI rules. (That is why ensuring that there are no state aid issues is so important)”.
How will the cash flow into the Development Company? “This will be agreed in the Business Plan. The general principle will be that the…” details are all redacted…!
“Tawd Valley Developments Limited’s main objectives will be to acquire and develop sites for residential and commercial development, and in addition the company will seek to: – Secure additional private and Government investment into the Borough – Create relationships with landowners, developers and investors which deliver financial and regeneration benefits – Maximise appropriate development and accelerate growth by providing property and commercial expertise”.
The only people with NO relationship with this company and who will be left in ignorance of the entire cash flow will be council tax payers, shown an FoI red card!