Published: 8th Jun 2018

A leading tourist attraction in Brighton and Hove has asked the council if they can reschedule its loan repayments to the local authority. Members of Brighton and Hove City Council’s policy, resources and growth committee will meet next week (14 June) to discuss a request from the owners of the i360 seafront tower to restructure the loan and reduce the annual payments from £570,000 to £25,000 until 2024. According to the committee report, the owners of the i360 are also seeking to renegotiate the loan they have the local enterprise partnership (LEP) and the council would receive £25,000 margin payment every six months with the rest of the margin deferred until sufficient money has been set aside to repay the LEP loan, except for June 2018 when there would be no payment and the December 2018 payment would be £50,000. In a statement, the chair of Brighton i360, Julia Barfield, said … (To read the full article, subscribe below)