Purpose

The Metrowest 2 Scheme is a rail scheme being
completed by West of England Combined Authority (WECA) for which
Bristol City Council’s cabinet (BCC) has approved to provide
funding of £9.194 million from its allocation of the Economic
Development Fund (EDF). This requires transfer of funds to WECA and
subsequent reclaim through the EDF.

Content

Funds are to be transferred to WECA for
BCC’s portion of 2023/24 and 2024/25 costs and further funds
will be provided when required up to the agreed £9.194m
allocation. These costs will be subsequently claimed back through
the EDF as per the standard process.

Alternative options considered

There are no alternative options available.
This has been agreed to be funded through BCC’s EDF, and this
is the only mechanism available to access the EDF funding.