Decision details

Getting Building Fund: Bradford One City Park

Decision Maker: West Yorkshire and York Investment Committee

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

Approval for the scheme to progress through Activity 5 (Full Business Case with finalised costs).

Decision:

(i)              That in respect of the One City Park, Bradford scheme the Investment Committee approves that:

(a)        The One City Park proceeds through decision point 4 and work commences on activity 5 (full business case with finalised costs).

(b)        An indicative approval of £7.5 million is given from the Getting Building Fund with full approval to spend being granted once the scheme has progressed through the assurance process to decision point 5. The total scheme cost is forecast at £28.789 million with the remaining £21.289 million funded by Bradford Council.

(c)        This approval replaces the £4.8 million Local Growth Fund allocation approved by the Combined Authority on 29 September 2016. 

(d)        Development costs of £1.909 million are approved in order to progress the scheme to decision point 5 (full business case with finalised costs).

(e)        The Combined Authority enters into a funding agreement with Bradford Council for expenditure of up to £1.909 million from the Getting Building Fund.

(f)          Future approvals are made in accordance with the assurance pathway and approval route outlined in this report, which will be subject to the scheme remaining within the tolerances outlined in this report.

 

Report author: Angie Shearon

Publication date: 08/01/2021

Date of decision: 07/01/2021

Decided at meeting: 07/01/2021 - West Yorkshire and York Investment Committee

Effective from: 16/01/2021