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Thank you for your email. This is an automated email receipt
acknowledgement and reply from the Information Governance Team at Brighton
& Hove City Council.

This mailbox is monitored during the working hours of 8:00am to 4:00pm on
Monday to Friday (excluding Bank Holidays). Emails received outside of
these working hours will usually be processed during the next available
working day.

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information, we will respond to you directly.

Under the Freedom of Information Act 2000 the Council has a legal
obligation to respond to your request no later than 20 working days
following the date of receipt.

You can find more information about the FOI process on the Council website
through the following link;

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Please find set out below the information in response to the above
request:

Apologies for the delay in responding to FOI 8729. In response to
questions 2 and 4, the payments relating to the Loan Agreement are as
follows:

Payment day Council payment Payment from i360 Surplus to the
to PWLB (annuity council
combines interest (December payment
and principal interest only and (known as the
into a fixed June payment is margin)
payment) the annuity)
£
£ £
31 December 2016 921,284.75 1,063,544.60 142,259.85
30 June 2017 922,296.52 1,492,304.25 570,007.73
Every 6 months 922,296.52 1,492,304.25 570,007.73
thereafter
Annual surplus until     1,140,015.46
the end of the loan
unless the loan is
repaid earlier from
operational surpluses

In response to question 3, the repayments from the i360 could not start
until the attraction generated sufficient income to make the repayments.
In the interim these costs were rolled up into the loan due from the i360
 therefore there is no loss to the council.

The answer to question 1 is complex and we receive numerous sums from the
i360 venture as we would from other large cultural or entertainment
businesses. Unfortunately, these are not always easy to identify within
our systems depending on the references provided and the method of
payment. Payments can include everything from Business Rates and licenses
to planning fees and highways charges. Payments we have been able to
identify, in addition to the financing payments identified above, are as
follows:

Transaction Fund Name Amount VAT Amount Payer name
date
25/07/2016 Ceremonies 3,132.00 0.00 Brighton I-360
Limited
06/10/2017 Business Rates 400,000.00 0.00 F/FLOW BRIGHTON
(NNDR) I-360
    2,958,980.85    

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Hove BN1 1JE

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Thank you for your email. This is an automated email receipt
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You can find more information about the FOI process on the Council website
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Regards,

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Council

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Good Morning Mr Heale,

Thank you for your email. It appears that when we posted our response to
whatdotheyknow.com it became jumbled. We believe this is due to the fact
that whatdotheyknow.com is unable to display table formats and we have
since contacted the site administrators and voiced our concerns.

In the meantime, please find attached formatted attachment which should be
much clearer.

Many thanks

Freedom of  Information Team

Brighton & Hove City Council I 01273 295959

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Working in partnership

Please find our new suite of Information Governance policies [3]here.

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