Decision Maker: WMCA Board
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: No
(1) The award of a grant to Birmingham City Council from the WMCA Brownfield Land and Property Development Fund to the Commonwealth Games Village application as set out in Paragraph 4.2 totalling no more than £20.075 million was approved subject to:
(a) The final independent valuations being in line with the current estimates underpinning the £20.075 million estimate, as detailed in Section 5.
(b) In the event there is a surplus on the Athletes’ Village scheme following sale of the residential units, this surplus is shared with WMCA up to a maximum of £20.075 million in line with the principles detailed in section 5.
(2) The elements of the bid with a particular reference to grant conditions A4 (Learning Institutions) were approved as contained in paragraph 4.1 given that this was the first time that this type of expenditure would be funded under the Brownfield Land and Property Development.
(3) The principle that the contribution be subject to the successful shortlisting of the Housing Infrastructure Fund announcement which provided the 39% (£144 million) of the overall funding for the village was agreed.
(4) A one off variation to the basis of the Brownfield Land and Private Development Fund be agreed for this project to recognise that the outcomes of this application would not be delivered until 2022 for the Commonwealth Games Village and 2023 to 2025 for the permanent scheme as this fell outside the time period indicated in the originating Fund documents approved by the Board.
Publication date: 16/04/2018
Date of decision: 09/03/2018
Decided at meeting: 09/03/2018 - WMCA Board