Go ahead expected for King’s Lynn Innovation Centre investigation
An independent inquiry into how a council lost almost £1m in a deal to build an enterprise centre will get the go-ahead tonight.
West Norfolk council's ruling cabinet has agreed the terms of an investigation into its relationship with Norfolk and Waveney Enterprise Services (NWES).
It will examine how the council came to lend NWES £2.75m towards the costs of building the King's Lynn Innovation Centre (KLIC), which opened in 2016.
The council repossessed the building after NWES defaulted on the loan and found it was worth £1.78m.
Last month, its ruling cabinet agreed to establish an independent inquiry into its partnership with NWES, its subsidiary companies and those with common shareholders or directors, regarding the contract to build and run the KLIC.
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Tonight, the full council has been recommended to back the call meaning the investigation will then begin.
It will be chaired by a chair chosen from a shortlist nominated by the Local Government Association.
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The independent inquiry will have access to all council documents associated with NWES.
It is expected to cost £40,000, which councillors have been told they can not recover from NWES.