Issue - meetings

Resolved:

(i)          That the Investment Committee notes this progress update in the context of TCF funded projects that are also being brought for consideration of Approval at this meeting and subsequent meetings.

(ii)         The Investment Committee recommends to the Combined Authority that:

(a)  £11.851m of TCF funding is approved to repay development costs incurred by partners and enable further development work on the projects within the programme as per Appendix A to enable progression to their next Decision Points of the Assurance Framework.

(b)  Up to £3m TCF funding is approved, to re-pay spend incurred to date on early development work, previously approved from the Transport Fund Transformational Pot.

(c)   The Combined Authority enters into Funding Agreements with partners for expenditure as detailed in Appendix A plus the spend incurred to date on early development work, previously approved from the Transport Fund Transformational Pot from the Transforming Cities Fund.

(iii)       The Investment Committee Recommends to the Combined Authority that:

(a)    The £4.930m TCF Programme Management allocation is approved to enable the Combined Authority to effectively undertake Programme Management functions for the lifetime of the TCF funded programme.

(b)    The £1.00m TCF Benefits Realisation allocation is approved, to enable the Combined Authority to provide monitoring and evaluation of the overall programme in line with DfT expectations

Members considered a paper on the Transforming Cities Fund. The programme was made up of 22 packages of schemes across West Yorkshire and North Yorkshire. Members noted the governance and reporting arrangements for the programme and that individual schemes would come to the Investment Committee for approval.

There were several schemes in the 22 packages that had no funding identified in the low scenario and a range of others that have additional scope, cost and associated benefits identified in the Core and High funding scenarios. The West Yorkshire Authorities have an ambition to progress all WY projects in the Higher Scenario.

Members asked for more detail regarding the number of schemes in the high scenario and if the timescale for the high scenario would be in line with the low scenario as well as the gap in funding between the various scenarios.

Resolved:

(i)          That the Investment Committee notes this progress update in the context of TCF funded projects that are also being brought for consideration of Approval at this meeting and subsequent meetings.

(ii)         The Investment Committee recommends to the Combined Authority that:

(a)  £11.851m of TCF funding is approved to repay development costs incurred by partners and enable further development work on the projects within the programme as per Appendix A to enable progression to their next Decision Points of the Assurance Framework.

(b)  Up to £3m TCF funding is approved, to re-pay spend incurred to date on early development work, previously approved from the Transport Fund Transformational Pot.

(c)   The Combined Authority enters into Funding Agreements with partners for expenditure as detailed in Appendix A plus the spend incurred to date on early development work, previously approved from the Transport Fund Transformational Pot from the Transforming Cities Fund.

(iii)       The Investment Committee Recommends to the Combined Authority that:

(a)    The £4.930m TCF Programme Management allocation is approved to enable the Combined Authority to effectively undertake Programme Management functions for the lifetime of the TCF funded programme.

(b)    The £1.00m TCF Benefits Realisation allocation is approved, to enable the Combined Authority to provide monitoring and evaluation of the overall programme in line with DfT expectations