Business rates do not go to the council, they go to central government & are then redistributed as part of the local authority grant, so even if payable would not benefit HCC, or Hull for that matter
Nice piece in the Indy: http://www.independent.co.uk/news/business/news/through-hull-and-high-water-the-city-that-came-good-9215176.html
If you haven't already. read this article. Ignore the trite references to Hull and its past and absorb the later details about just how much this deal along with the one on the South Bank is worth over time. Truly massive and future securing stuff for the region.