South Ayrshire Council members will await legal advice from tax experts before officially disbanding the Ayr Renaissance.

Councillor Ian Davis asked the board at a council meeting on Thursday, October 4 to what extent would a VAT payment issue would be affected once the group is disbanded. He asked: “With regards to the tax implications, what kind of magnitude can the council expect these implications to be?”

Chief Executive Eileen Howat, responded, saying: “At this stage, up until we have a decision, we will be taking some advice. Now that we have a proposal coming forward from members, we will be going back to our tax experts to get new information.

“My intention will be to come back with a future report to members before we finally press the button.”

The concerns came at proposed changes to the LLP agreement stated that net assets would be distributed to the members in proportion to their capital contributions and advised that South Ayrshire Council are currently reviewing the tax implications of this.

While everyone acknowledged the imminent disbandment of Ayr Renaissance, some members took time to thank them for the work they have done over the years. Councillor Hugh Hunter said: “Ayr Renaissance was set up in 2007/08 when I was council leader at the time so I have personal disappointment that it has come to this. The real disappointment is that the direction was changed in the intervening years.

“A lot of the fruits of what they started will now come to completion under the new arrangements and it would be right to recognise that.

The decision to disband the renaissance came following the resignation of four non-council members in early September. Part of the work they were doing was plans to regenerate Ayr town centre.

Councillor Hunter added: “It’s not complete failure. They were good people that started things off and many things actually happened – like the pink buildings. It took forever to get through that and get the money.

“There was work done, the work at Sandgate, and at New Market, these were things that needed done for years and they got them done.

“We look forward. It’s opportunity we’re looking at. That’s why the renaissance was set up, because there wasn’t opportunity. There still is so let’s grasp it this time. Thanks very much for all your effort.”