Purpose

This IEDN will seek approval to create a
supplementary revenue budget comprising external grant from the
West Midlands Combined Authority to support professional services
and activities for the continued delivery of the Green Innovation
Corridor programme within the West Midlands Investment Zone.

Content

1.     
Approved the creation of supplementary revenue budget of
£415,000 for financial year 2025-2026 for the continued
delivery of Green Innovation Corridor within the West Midlands
Investment Zone, subject to a signed grant agreement with the West
Midlands Combined Authority as noted below.
 
2.     
Authorised the Council to enter into a Grant Agreement with the
University of Wolverhampton to transfer £124,000 to support
delivery of the Green Innovation Corridor Programme.
 
3.     
Authorised the Chief Operating Officer to negotiate, execute, seal
and complete all necessary legal documents to give effect to the
above recommendations.