Agenda item

Ian Martin presented a report on the status of the Investment Programme to

assist the Board in setting out the context for any investment decisions to be

made by the Board.

He reported that approved funding from the WMCA investment Programme for programmes totalled £776.7 million (as at 30 September 2020) compared to £768.7 million as at 31 August 2020) with funding drawn down / incurred against these projects as at 31 August 2020 totalling £212.9 million. This was consistent with the expectations as at 8 November 2019 when the WMCA board had agreed to hold approvals at the current affordable limit of £801 million. Since the last report the following business cases had been approved:

·       UK Central HS2 Interchange – Arden Cross Multi-Storey Car Park (OBC): £5.42 million;

·       Commonwealth Games 2022 – Tourism, Trade and Investment Programme: £2.6 million; and

·       Change request regarding the allocation of indirect costs of UK Central Infrastructure Programme Phases 1 & 2. He advised that it should be noted that no further monies had been requested, but small reallocations of costs between projects and changes to completion dates had been approved by Statutory Officers.

Nick Abell expressed surprise at the reference to the Tourism, Trade and Investment Programme was referred as relating to the Commonwealth Games as his understanding, from the last meeting, was that this had related to an extension of funding to the West Midlands Growth Company. Ian Martin explained that the WMCA was the Accountable Body with the West Midlands Growth Company acting as the Delivery Body for TTI which related to activities leveraging the CWG. Nick Abell commented that this was not made clear on the Dashboard and that it appeared that the sum referred directly to expenditure for the Commonwealth Games. Ian Martin undertook to address this issue and would instruct this to be made clear on the Dashboard going forward.

Ian Martin referred to the Investment Programme Dashboard and advised that this now contained 61 projects some of which were capable of division into separate sub-projects. Of the 61 projects, four were currently rated in the ‘RED’ category, as follows:

·       HS2 Hybrid Act Change (HS2 Parallel Designs);

·       Strategy, Utilities, Land Value, Car Parking (UKC);

·       Coventry City Centre South; and

·       A46 Stoneleigh Junction (A46 Link Road Phase 1).

He reported that the first two schemes would be subject to change request to be considered at future meetings, that the Coventry City Centre South scheme had been the subject of a presentation at the last meeting with a change request anticipated and that DfT funding had now be confirmed for the A46 scheme with a change request to be submitted for consideration at a future meeting.

Resolved:

1.    That the status of the Investment Programme delivery as detailed in the report be noted;

2.    That the progress of the Devolution Deal five-year gateway review be noted;

3.    That the Investment Programme funding status be noted;

4.    That the role of the West Midlands Growth Company as the Delivery Body for the Tourism, Trade and Investment Programme for the Commonwealth Games be made clear in future reports.