City Centre South Additional Grant Funding
Report of the Director of Property Services and Development Chief Operating Officer (Section 151 Officer)
(Listing Officer: A Hunt - email: adam.hunt@coventry.gov.uk)
Additional documents:
Minutes:
Further to Minute 71 above, Cabinet considered a private report of the Director of Property Services and Development, that would also be considered at the meeting of Council on 19th March 2024, which set out the commercially confidential matters relating to proposals for City Centre South additional grant funding. An Appendix to the report provided the Deloitte Review of Additional Funding Request Report.
RESOLVED that Cabinet:
1) Approves the acceptance of the Additional West Midlands Combined Authority funding of up to £12.24m to be added to the £98.8m previously secured which will be utilised to facilitate the delivery of City Centre South.
2) Delegates authority to the Director of Property Services and Development, following consultation with the Chief Operating Officer (Section 151 Officer), the Chief Legal Officer, the Cabinet Member for Jobs, Regeneration and Climate Change, the Cabinet Member for Strategic Finance and Resources and the Cabinet Member for Housing and Communities, to undertake the necessary due diligence and approve and enter into the legal agreements and undertakings necessary to give effect to recommendation 1) above.
3) Add the Additional WMCA Funding to the Council’s 5 Year Capital Programme.