RESOLVED:– That the Combined Authority Board:

Approved an increase of £5,000,000 to the Temple Works (British Library North) project, funded through the Regeneration Commercial Investment Fund, to support development of the preferred British Library North proposal, taking the total Combined Authority funding from £34,071,417 to £39,071,417.
Approved that the Combined Authority enter into a Grant Funding Agreement with The British Library for expenditure of up to £5,000,000, less Combined Authority programme costs, and delegated to the Chief Executive, in consultation with the Mayor, the finalisation of the terms of the agreement and any associated legal documentation.
Approved that any future increases in funding associated with the scheme be referred back to the Combined Authority Board for consideration and approval and regular progress updates against the agreed milestones be provided to members, either through formal Combined Authority Board reporting arrangements or by email communication, to ensure ongoing oversight and monitoring of delivery.