Decision details

The board considered a report from West Midlands Development Capital seeking the re-approval of an existing Brownfield Land & Property Development Fund grant now to be in the name of Mira Technology Park Ltd rather than Encocam Newco SPV, as had been previously agreed by the Investment Board on 17 October 2022.

The Investment Director - Property, West Midlands Development Capital reported that this change was proposed in order to reflect the new owners of the site, which was considered a positive change from the WMCA’s perspective. He confirmed that the funding would only be released when Mira Technology Park had demonstrated that it was making the other funding investments required.

Resolved:

The existing Brownfield Land & Property Development Fund grant, as detailed within the report and previously approved at the Investment Board on 17 October 2022, but now to be in the name of Mira Technology Park Ltd as applicant, rather than Encocam Newco SPV, be re-approved.