To seek Cabinet’s, in principle, approval of the Freeport East Retained Business Rates Agreement, acting as the Billing Authority, in line with the Council’s ‘Freeport East Policy for Managing Retained Business Rates’, and to set out the next steps to finalise the Agreement.

To ask Cabinet, acting as Founding Member, to approve the Freeport East Ltd Annual Business Plan for 2025/26, as required by the Members’ Agreement.

RESOLVED that Cabinet –

(a)        in its role as Billing Authority, notes the progress made to date to complete the Freeport East Retained Business Rates Agreement, and agrees the approach as proposed in Appendix A to the Leader of the Council’s report (A.1);

(b)        authorises the Deputy Chief Executive and the Section 151 Officer to approve and sign the final Freeport East Retained Business Rates Agreement in line with the Council’s Freeport East Policy for Managing Retained Business Rates and Freeport East Policy for Granting Non-Discretionary Domestic Rates Relief; and

(c)        in its role as a Founding Member, and in accordance with the Members’ Agreement, approves the 2025/26 Freeport East Ltd. Annual Business Plan.