Resolved: That following a recommendation from the Investment Committee, the Combined Authority approves:
(i) That the Intra City Fund Capacity Funding scheme proceeds through decision point 1 (Pipeline Identification and Gateway Assessment) and work commences on activity 2 (Strategic Outline Case).
(ii) That an indicative approval to the Combined Authority’s contribution of £7.400 million (which will be funded from the DfT Intra City Fund Capacity Fund) be given.
(iii) That development
costs of £3 million are approved in order
to progress the scheme to decision point 2 (Strategic
Outline Case).
(iv) That the Combined Authority enters into any Funding Agreements required with our Partner Councils for expenditure of up to £0.500 million from the DfT Intra City Fund Capacity Fund.
(v) That future approvals are made in accordance with the assurance pathway and approval route outlined in the submitted report. This will be subject to the scheme remaining within the tolerances outlined in the report.