(i) In respect of the SIIF Pipeline (project 5) the Investment Committee approved that:
(a) The SIIF Pipeline (Project 5) project proceeds through decision point 2 and work commences on activity 6 (delivery).
(b) Approval to the Combined Authority’s contribution of £2 million from the Local Growth Fund’s Strategic Inward Investment Fund is given with full approval to spend being granted once the scheme has progressed through the Assurance Process to decision point 5. Total project costs are £13.666 million.
(c) Future approvals are made in accordance with the assurance pathway and approval route outlined in this report. This will be subject to the scheme remaining within the tolerances outlined in this report
Resolved:
(a) In respect of the Strategic Inward Investment Fund (SIIF) –
That approval of the Strategic Outline Case (decision point 2) be delegated to the Investment Committee.
(b) In respect of Project 7 – SIIF 012 – Advanced Manufacturing Company -
That delegated authority is given to the Combined Authority’s Managing Director to approve, subject to the successful appraisal of the application by the Business Investment Panel (BIP) and Programme Appraisal Team (PAT):
(i) The applicant’s full business case with finalised costs (decision point 5) and that work commences on activity 6 (delivery)
(ii) Approval for the Combined Authority’s contribution of £0.779 million to be given from the Local Growth Fund.
(iii) The scheme’s Assurance Framework pathway and approvals.