Issue - meetings

(1)       The award of £39.4 million Devolution Deal funding to Coventry Rail Station Masterplan project, which was promoted by Coventry City Council based on assurance work completed and the endorsement of the Project by the Investment Board on 29 January 2018 was approved.

(2)       Delegated authority was given to the Monitoring Officer and the Director of Finance in consultation with the Portfolio Lead for Finance to conclude the grant agreement with Coventry City Council in accordance with this report.

Councillor Izzi Seccombe presented a report setting out the work undertaken by the Investment Board and the assurance provided to support the approval of £39.4m for the Coventry Rail Station Masterplan. The report summarised the key aspects to the application, which was supported by a summarised business case submitted by Coventry City Council to the Investment Board.

The Coventry Rail Station Masterplan would involve a comprehensive redevelopment of the station, delivering new infrastructure including a second station building, 644 space multi storey car park, footbridge connecting all platforms, new bay platform to enable more frequent services between Coventry - Nuneaton, six-bay bus interchange with provision for rail replacement services, and significant highway improvements to deal with traffic operation around the station.

Resolved:

(1)       The award of £39.4 million Devolution Deal funding to Coventry Rail Station Masterplan project, which was promoted by Coventry City Council based on assurance work completed and the endorsement of the project by the Investment Board on 29 January 2018, be approved; and

(2)       Delegated authority be given to the Monitoring Officer and the Director of Finance, in consultation with the Portfolio Lead for Finance & Investments, to conclude the grant agreement with Coventry City Council in accordance with the report.