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Council considers £2m AECC loan Council considers £2m AECC loan
(30 minutes later)
Aberdeen Exhibition and Conference Centre (AECC) could be given a £2m loan by the city council, BBC Scotland can reveal. Aberdeen Exhibition and Conference Centre could be given a £2m loan by the city council, BBC Scotland has learned.
A confidential report recommends the council - facing £50m in cutbacks - approves the loan, and warns that "no action is not an option". A confidential report recommended that the council, which is facing £50m in cutbacks, should approve the loan, and warned "no action is not an option".
The report says the conference centre continues to generate a "considerable spin-off economic benefit" locally. The report said the AECC generated a "considerable spin-off economic benefit" locally, estimated at £200m over the next five years.
The report is due to be considered by councillors this week.The report is due to be considered by councillors this week.
The AECC's board of directors have asked for short-term financial support.
The council already provides annual funding of £650,000 for the Bridge of Don venue.
The report said the board of directors had agreed to pursue other funding options with the Scottish Government and Scottish Enterprise.