Decision details

Decision Maker: Investment Zone Board, WMCA Board

Decision status: Recommendations approved

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

Approve Full Business Case for Coventry and Warwick Gigapark capital investment.

Decision:

(1)      The full business case, and the comments from the Investment Panel and the Investment Zone Board, were noted.

 

(2)      The Coventry and Warwick Gigapark full business case was approved.

 

(3)      Grant funding of £21.038m to Coventry City Council for the Coventry and Warwick Gigapark was approved, subject to the following conditions, outlined in the ‘financial implications’ and ‘legal implications’ sections of the report:

 

·       Confirmation of flexible funding grant by the Ministry of Housing, Communities & Local Government;

·       Delivery of the outcomes funded through the strategic outline case;

·       Appropriate provision for coverage in the event of income generation eg. from land disposals or other arrangements.

 

(4)      Authority was delegated to the Monitoring Officer, Director of Commercial & Investment and the Section 73 Officer to finalise a grant agreement with Coventry City Council, including the detail of the conditions outlined above.

Report author: Steve Bowyer

Publication date: 12/01/2025

Date of decision: 10/01/2025

Decided at meeting: 10/01/2025 - WMCA Board

Accompanying Documents: