Agenda and minutes

REASONS FOR RECOMMENDATION

A request had been received from Buxton Markets Community Interest Company (CIC) for an amendment of the licence fee to operate High Buxton Market to excluded Government Grants from the profit share.

ALTERNATIVES CONSIDERED:

As set out in paragraph 5 of the report

RESOLVED:

That a Letter of Variation be issued to amend the wording in the Schedule to the Licence to read “Profit share will be split on a 50:50 basis between the Council and the Licensor.  Profits will be calculated on a fiscal quarterly basis in arrears net of corporation tax, net of government grants, net of capital investments required to establish the market and net of losses incurred during start up and paid to the Council within two weeks of each quarter end.”

ANY DECLARATION OF INTEREST

None

A NOTE OF ANY DISPENSATION RECEIVED

None