Purpose

Approval of a change request to extend the programme and release additional funding. The scheme aims to build a pipeline of employment sites across West Yorkshire.

Decision

RESOLVED:– That the Combined Authority Board:

1. Approved that the Regeneration Commercial Investment Fund programme progress through Decision Point 2 (Programme Business Case) and noted the Combined Authority’s potential funding of up to £121,000,000 from the Integrated Settlement, subject to endorsement of a pipeline of projects by either the Investment Board or the Combined Authority Board.
2. Approved that work commence on the individual project business cases for schemes on the Regeneration Commercial Investment Fund (RCIF) pipeline.
3. Approved development funding of up to £6,000,000 for programme activities, resourcing and any business case development requirements, taking the total approval to £6,000,000.
4. Approved a delegation to the Combined Authority’s Chief Executive, in consultation with the Mayor, to sign any Funding Agreements under the Regeneration Commercial Investment Fund required between the Combined Authority and partners as a consequence of approvals to subsequent capital project business cases.
5. Approved the change request to the Employment Land Accelerator Fund scheme to:

·                     increase delivery timescales from September 2026 to March 2029; and

·                     increase funding by £4,000,000, taking the total from £2,000,000 to £6,000,000.

1. Approved the conversion of £4,000,000 of capital funding from the Integrated Settlement (Local Growth Fund) to revenue funding for the Employment Land Accelerator Fund.