Resolved: That following a recommendation from the Investment Committee, the Combined Authority approves:
(a) That the TCF: Leeds City Centre Cycle Connectivity project proceeds through decision point 3 (outline business case) and work commences on activity 5 (full business case with finalised costs).
(b) That an indicative approval to the total project value of £7.81 million is given from the TCF fund 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 additional development costs of £1.085 million are approved, in order to progress the scheme to decision point 5 (Full business case with finalised costs), taking the total project approval to £1.235 million.
(d) That the Combined Authority enters into a funding agreement with Leeds City Council for expenditure of up to £1.235 million from the TCF 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 5 through a delegation to the Combined Authority’s Managing Director following a recommendation by the Combined Authority’s Portfolio Appraisal Team. This will be subject to the scheme remaining within the tolerances outlined in the report.