Purpose

To seek the Combined Authority's approval of a change control for this project.

Decision

RESOLVED – That in respect of the Halsnead Symmetry Park Change Control:

(a)         The project outputs to reflect the increase of floorspace developed from 15,041 Sq m to 86,400 Sq m be agreed;

(b)         The maximum grant figure for the project to remain at £3,791.674;

(c)          The overage arrangements for the whole development be re-apprised after five years, ensuring that the Combined Authority receives a return on its investment in the event of a significant increase in value; and

(d)         Delegated authority be granted to the Executive Director of Investment and Delivery in consultation with the Executive Director – Resources and the Monitoring Officer to agree such variation to the existing Grant Funding Agreement and related arrangements as may be required to give effect to this material change.