Leading members of
Darlington Borough Council, which has maintained its stake in the airport since Tees Valley Combined Authority (TCVA) agreed to buy the 89 per cent shareholding of Peel Holdings in January last year, will next week also consider supporting the huge development scheme through a £23.6m loan from TVCA to create roads, utilities and flood mitigation works....
...The meeting will hear following a robust selection process
Stockton developers Theakston Land and Billingham-based Wynyard Business Park had been chosen to take the project forward....
...A report to the cabinet meeting states the firms were selected after agreeing not to take any profit out early in the development, and forego pay for their management of the infrastructure works. The firms also said they were prepared to earn their returns in the long-term, through dividends, which would depend on effective partnership working.