Agenda and decisions

Venue: Room 116, West Midlands Combined Authority, 16 Summer Lane, Birmingham, B19 3SD

Contact: Wendy Slater, Senior Governance Services Officer 

Items
No. Item

1.

Apologies for Absence

Presented By: Chair

2.

Notification of Substitutes

Presented By: Chair

4.

Minutes - 11 December 2023 pdf icon PDF 123 KB

Presented By: Chair

Decision:

Agreed.

5.

Investment Programme Update and Dashboard pdf icon PDF 254 KB

Presented By: Ian Martin

Additional documents:

Decision:

1.    Approval under delegated authority by WMCA Officers of the business case submission disclosed at section 3 of the report be noted;

2.    The WMCA Investment Programme funding status and current affordable limit as outlined in section 4 of the report be noted and

3.    The Regional Investment Programme delivery update detailed within this report and appendices (including the project-level summary within the WMCA Investment Programme dashboard at Appendix 2) be noted.

6.

WMCA Commercial Investment Fund (CIF) - Dashboard pdf icon PDF 597 KB

Presented By: Nick Oakley

Decision:

Noted.

7.

WMCA Brownfield Land and Property Development Fund (BLPDF) - Dashboard pdf icon PDF 594 KB

Presented By: Nick Oakley

Decision:

Noted.

8.

WMCA Residential Investment Fund (RIF) - Dashboard pdf icon PDF 592 KB

Presented By: Nick Oakley

Decision:

Noted.

9.

Exclusion of the Public and Press

[To pass the following resolution:

That in accordance with Section 100A4 of the

Local Government Act 1972, the press and

public be excluded from the meeting during the

consideration of the following items of business

as they involve the likely disclosure of exempt

information relating to the business affairs of any

particular person (Including the authority holding

that information)]

Presented By: Chair

Decision:

That in accordance with Section 100A4 of the Local Government Act 1972, the press and the public be excluded from the meeting during the consideration of the following items of business as they involve the likely disclosure of exempt information relating to the business affairs of any particular person(including the authority holding that information).

10.

Coventry City Centre South - Change Request

Presented By: John Godfrey /Adam Hunt

Decision:

1.    The Housing Fund Investment allocates up to £12.24m towards unlocking the mixed-use regeneration project known as City Centre South, subject to the full verification of the viability gap and other standard due diligence be approved and.

2.    Authority be delegated to approve the commercial terms and grant structure to the Interim Executive Director of Housing, Property and Regeneration and the Director of Commercial and Investment to ensure the necessary due diligence is undertaken to any associated legal agreements that are necessary to give effect to the recommendations contained within the report be agreed.

11.

Gracechurch Centre, Sutton Coldfield

Presented By: Gerald Gannaway

Decision:

1.    The powers and the ability of the WMCA to make the proposed loan be noted;

2.    The loan investment from the Commercial Investment Fund for the sum specified in the report to the ‘Company’ for a term of up to 5 years as per the terms and conditions set out in the report be approved and

3.    The negotiation and approval of the final terms of the loan be delegated to the Director of Commercial and Investment in consultation with the Section 151 Officer and Monitoring Officer be agreed.

12.

Newater House, Newhall Street, Birmingham

Presented By: Gerald Gannaway

Decision:

1.    The powers and ability of the WMCA to make the proposed loan be noted;

2.    The loan investment from the Commercial Investment Fund for the sum specified in the report (initially limited to the sum stated, with the higher figure only being made available subject to certain defined conditions being met as outlined in the report, to be confirmed with the Director of Commercial and Investment and Section 151 Officer) to the ‘Company’ for a term of up to 4 years as per the terms and conditions set out in the report be approved and

3.    The negotiation and approval of the final terms of the loan be delegated to the Director of Commercial and Investment in consultation with the Section 151 Officer and Monitoring Officer.

13.

Abberley Street Disposal

Presented By: Anna Jones

Decision:

Deferred to the next meeting.

14.

Affordable Housing Pilot

Presented By: Rob Lamond

15.

WMCA Commercial Investment Fund (CIF) - Dashboard

Presented By: Nick Oakley

16.

WMCA Brownfield Land and Property Development Fund (BLPDF) - Dashboard

Presented By: Nick Oakley

Decision:

Noted.

17.

WMCA Residential Investment Fund (RIF) - Dashboard

Presented By: Nick Oakley

Decision:

Noted.

18.

Black Country Land and Property Investment Fund (LPIF)

Presented By: Kelly Valente

Decision:

Noted.

19.

Housing & Land Fund Dashboard

Presented By: Rob Lamond