Purpose

To ensure that the constitution is accurate, clear, and fit for purpose.

Decision

Further to a review of the Investment Board Terms of Reference, amendments have been proposed to ensure that the Board's remit fully reflects the Combined Authority's emerging priorities and areas of investment activity.

The amendments provide for the inclusion of cultural investment programmes and projects which support place making, inclusive growth, the visitor economy and the delivery of the Combined Authority's strategic objectives, as well as retrofit, decarbonisation and energy efficiency programmes relating to homes, buildings and places.

The amendments also clarify the Investment Board's role in the development, prioritisation, oversight and approval of associated investment proposals, funding allocations and delivery programmes. As such, the Terms of Reference have been updated accordingly.

Alternative options considered

Option 1 -
Option 2 -
Option 3 -