Decision details

Resolved:  In respect of ERDF – Connecting Innovation -

That following a recommendation from the Investment Committee, the Combined Authority approves:

(a)       That the ERDF Connecting Innovation project proceeds through decision point 2 and work commences on Activity 5 (full business case plus).

(b)       That an indicative approval of £2,779,846, comprised of £750,961 from the Access to Capital Grants element of the Local Growth Fund and £2,028,885 from the European Regional Development Fund. The total project costs are £4,057,771 million, with Small Medium Enterprise match funding of £1,277,925 million.

(c)        That future approvals are made in accordance with the assurance pathway and approval route outlined in the submitted report including at decision point 5 through a delegation to the Managing Director following a recommendation by the Combined Authority’s Programme Appraisal Team.  This will be subject to the scheme remaining within the tolerances outlined in the report.