Resolved: That following a recommendation from the Investment Committee, the Combined Authority approves:
(a) That the Holmfirth Town Centre project proceeds through decision point 3 and work commences on activity 4 (FBC).
(b) That an indicative approval to the total project value of £3.97 million is given from the WY+TF fund with full approval to spend being granted once the scheme has progressed through the assurance process to decision point 5 (FBC with finalised costs).
(c) That additional development costs of £640,000 are approved in order to progress the scheme to decision point 4 (FBC), taking the total project approval to £890,000.
(d) That the Combined Authority enters into an addendum to the existing funding agreement with Kirklees Council for expenditure of up to £890,000 from the WY+TF fund.
(e) That future approvals are made in accordance with the assurance pathway and approval route outlined in the submitted report including at decision point 4 and 5 through a delegation to the Combined Authority’s 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.