Wrthi'n llwytho
Does dim crynodeb o'r cyfarfod hwn eto. Caiff un ei ysgrifennu pan fydd y cyngor yn cyhoeddi'r cofnodion. Mae'r agenda a'r papurau isod.
Councillor Al-Nuaimi asked: I refer the Leader of the Council and the CM for Regeneration to the answers they provided to Question 2025/20 on 15 August 2025, which was one year ago. In that question I asked about the outstanding £6m loan owed by the company which runs the former Newport Provision Market, Loft Co. That loan was due to be paid on 2nd February 2026.. The answer I received was that there was still time for the loan to be paid by Loft Co. • It is clear that the loan is still outstanding more than 6 months after its due date. The answer to QAAT 26/2040 confirms this position and speaks about the need for a formal position to be formulated in relation to it. I consider and expect that the Leader of the Council and the CM for Regeneration are duty bound to inform the 51 members of the Council as to the SPECIFIC REASONS that have compelled the Council to permit such a poor financial outcome resulting in a glaring default by the company running the former provision Market. 2. In their answer last year the Leader of the Council and the CM for Regeneration said this about the operation in the former Provision Market " I would disagree, the development has delivered space to work, entertain, get fit, eat, drink, dance and release artistic potential. Aside from the private office spaces and co-working facilities available, there are a variety of traders who provide leisure and well-being services. There are spaces available (and used) for events, gatherings and even weddings. "It is important to acknowledge that the development has transformed the former provisions market, breathing new life into the listed building and offering residents and visitors to the city a great place to meet, socialise and work. It has also helped some businesses who are at the start of their journey to establish a presence in Newport, with a number of former occupiers having taken up larger space elsewhere in the city centre." Can they please supply hard evidence to support those statements? And if they really believe in them, then Loft Co should be making profit, Can they explain why the loan of £6m, (more than 6 months after its repayment due-date) is still outstanding, and that so far Newport City Council has not received any share of the profits made by Loft Co. Councillors Batrouni and Clarke responded: The loan remains outstanding and the Council as lender is currently in negotiations with the developer regarding repayment. This work, which is commercially sensitive and requires consideration of legal, financial and commercial matters is being progressed. The Council’s interests are protected under relevant agreements, but it is not appropriate to disclose commercially sensitive negotiations, legal advice or recovery options in a public forum. Previous comments reflected that the redevelopment has restored and brought back into active use a significant city centre building, providing a mix of food, beverage, leisure, workspace, cultural and event uses. The building continues to accommodate businesses, visitors, events and community activity, and contributes positively to the city centre (and the objectives of the Placemaking Plan) as well as prompting further investment. Regeneration success and commercial profitability are not necessarily the same thing. The previous answer referred to the regeneration outcomes delivered by the redevelopment. It did not comment on the profitability of the development or the level of profit relative to the repayment obligations. In respect of businesses which have started out in the Market and have since gone on to establish themselves in larger premises, these include Senor Little, now in Kingsway, and Moka E Farina at 31 Commercial Street.
Rhaid i gynghorwyr ddweud pan fydd ganddyn nhw gysylltiad personol â rhywbeth sy'n cael ei drafod, fel swydd, eiddo neu aelod o'r teulu. Mae buddiant sy'n rhagfarnu yn ddigon cryf i'r cynghorydd adael yr ystafell fel arfer a pheidio â chymryd rhan.
Caiff datganiadau eu darllen o'r cofnodion unwaith y byddan nhw wedi'u cyhoeddi.
Dyw'r cyngor ddim wedi cofnodi presenoldeb ar gyfer y cyfarfod hwn.
Yn rhestru cynghorwyr presennol y cyngor yn unig. Nid yw aelodau cyfetholedig, swyddogion a chyn-gynghorwyr yn cael eu dangos.