Decision Maker: ARCHIVED - West Yorkshire and York Investment Committee
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
Approval for the Wakefield South East Gateway
- Rutland Mills scheme to proceed through Decision Point 4 (Full
Business Case) and work commence on Activity 5 (Full Business Case
with Finalised Costs).
Resolved: That in respect of the Wakefield City Centre, South East Gateway – Rutland Mill the Investment Committee using the delegated authority from the Combined Authority Board approved:
(a) That the Wakefield City Centre, South East Gateway – Rutland Mill proceeds through decision point 4 and work commences on activity 5 (full business case with finalised costs).
(b) That an indicative approval to the Combined Authority’s capped contribution of £2.89 million to the Rutland Mill scheme to be funded from the Local Growth Fund programme is given towards a total scheme cost of £20.57 million with full approval to spend being granted once the scheme has progressed through the assurance process to decision point 5 (full business case with finalised costs).
(c) That decision point 5 (full business case with finalised costs) is conditional upon the Wakefield Council providing a finalised development contract which demonstrates that if 100% of the floor space isn’t developed by December 2022, Wakefield can step in to buy back at 70% market value.
(d) That future approvals are made in accordance with the assurance pathway and approval route outlined in this report following a recommendation by the Combined Authority’s Programme Appraisal Team. This will be subject to the scheme remaining within the tolerances outlined in this report.
Report author: Lisa Childs
Publication date: 05/12/2019
Date of decision: 04/12/2019
Decided at meeting: 04/12/2019 - ARCHIVED - West Yorkshire and York Investment Committee
Effective from: 13/12/2019