Decision Maker:

Outcome: Recommendations Approved

Is Key Decision?: Yes

Is Callable In?: Yes

Date of Decision: December 10, 2025

Purpose:

Content: 1.     That the refined components of the Green Innovation Corridor (GIC) programme under the Local Regeneration Fund (LRF), formerly Levelling Up Fund Round 3 (LUF3) superseding all elements of the scheme previously reported, as set out in section 4 of the report be approved.   2.     That entering into a Grant Funding Agreement (GFA) and any necessary ancillary legal agreement with the University of Wolverhampton (UoW) for delivery of Block A, Block B and the Science Park Substation, for the grant period to 31 March 2028 with a grant value of £11.1 million with output and outcomes delivery date up to 31 March 2035 be approved.   3.     That the Council-delivered components (Public Realm/Connectivity and Strategic Acquisitions) and design and implementation activities in line with Contract Procedure Rules and the LRF timetable be agreed.   4.     That authority be delegated to the Director of City Development, Section 151 Officer and the Chief Operating Officer, in consultation with the Cabinet Member for City Development, Jobs and Skills to undertake all necessary steps to progress, negotiate and agree terms with relevant landowners for the Strategic Acquisitions of Sites B, I, J to support the emerging GIC Masterplan subject to Red Book valuation, business case and legal due diligence.   5.     That authority be delegated to the Director of City Development, Section 151 Officer and the Chief Operating Officer, in consultation with the Cabinet Member for City Development, Jobs and Skills to approve the requirements of the Subsidy Control Act 2022 have been adhered to.   6.     That the Chief Operating Officer be authorised to negotiate, execute, seal and complete all necessary legal agreements referenced in the report.   7.     That the Government’s Funding Simplification changes be noted: Pathfinder becomes Local Regeneration Fund (LRF), which now includes LUF3, in a single pot; change control devolved to local authorities by the way of Section 151 led assurance; long-stop date of 31 March 2028 for defrayal of grants be noted. The Ministry of Housing, Communities and Local Government (MHCLG) would issue for sign off a new Memorandum of Understanding (MOU) in late 2025/early 2026 which would be LRF place based covering this GIC Programme, Capital Regeneration Project and Pathfinder Programme, superseding all previous MOUs.   8.     That the intent for the Council to notify MHCLG of the varied scheme as detailed in the report once approved be noted.