Decision details

(1)      The financial position as at 31 August 2022 was noted.

(2)      The latest forecast for 2022/23, including the change to the Value for Money criteria for Bus Access Standards to £4.10, was noted.

(3)      The update on Medium Term Financial Plan was noted.

(4)      The Levelling Up Fund bid submitted by the WMCA under delegations previously approved by the board was noted.

(5)      The grant award of £1.5m over three years from Department for Levelling Up, Housing & Communities for rough sleeping was noted.

(6)      The award of £6.9m Made Smarter Phase 2 grant for 2023/24 to 2025/26 from the Department for Business, Energy & Industrial Strategy was noted.

(7)      The approval of the Multiply Investment Plan for £16.7m allocation and the award of £5.1m for 2022/23 activity was noted.

(8)      The recharge of 2022/23 Business Rates Growth monies was approved.

(9)      The West Midlands Co-Invest project update was noted and the setup of a new-wholly owned company for the fund, rather than using the existing West Midlands Development Capital structure, was approved.

(10)    The package of ‘good will measures’ offered by the contractor in relation to metro track replacement works on Corporation Street, Birmingham was noted.

(11)    The potential for the WMCA to bid for the hosting the Intelligent Transport Systems World Congress in Birmingham in 2027, with the bid due to be submitted in early November, was noted.