A decision has been delayed on whether to allow the Brighton i360 to postpone loan payments to Brighton and Hove City Council.
The Labour council leader Daniel Yates said that more time was needed for the proposals to be considered before approval was sought from councillors.
Councillor Yates told the council’s Policy, Resources and Growth Committee that the matter could be brought back to an urgent or special meeting.
The urgency relates to the timing of the next twice-yearly payment from the i360 which is due at the end of the month.
The i360 has attracted fewer visitors than forecast when loans totalling just over £40 million were approved.
The council brokered the main loan – just over £36 million – from the Public Works Loan Board.
There is no suggestion that the i360 will default on its repayments but it wants to defer the fee – about £570,000 every six months – that goes to the council.
It has also asked its other lender – the Coast to Capital Local Enterprise Partnership (LEP) – to reduce the rate of interest on its other loan.
The LEP will decide whether to grant the request relating to its £4 million loan at a board meeting early next month.
Councillor Tony Janio, the council’s opposition Conservative group leader, expressed willingness to allow the i360 to defer its payments.
But if visitor numbers picked up, he wanted part payments brought forward on a percentage basis.
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