The Funding Committee of the Cambridgeshire and Peterborough Combined Authority met on Monday 7 September 2026, approving significant funding for active travel and brownfield housing development, and recommending the closure of a subsidiary company. Key decisions included recommending the approval of £24.465 million for the Active Travel Consolidated Settlement 2026-2030 and £557,000 in revenue funding from the Brownfield Housing Fund. The committee also recommended the approval of shareholder documentation to facilitate the closure of the Cambridgeshire and Peterborough Business Growth Company Limited.

Active Travel Consolidated Settlement 2026-2030

The committee recommended that the Combined Authority Board approve the Full Business Case and £24,465,000 for the Active Travel Consolidated Settlement 2026-2030. This funding will support a four-year capital and three-year revenue programme across Cambridgeshire and Peterborough, aimed at increasing walking, wheeling, and cycling. The programme includes infrastructure improvements, school and community initiatives, and behaviour change activities. The funding is part of the Department for Transport's active travel allocation and is crucial for maintaining the region's Active Travel England capability rating, which could impact future government investment. Failure to proceed would hinder the delivery of strategic active travel improvements.

Brownfield Housing Fund

A recommendation was made to the Combined Authority Board to approve the Outline Business Case and allocate £557,000 in revenue funding from the Brownfield Housing Fund. This fund aims to unlock housing on brownfield sites by addressing viability gaps and market failure. The total allocated funding is £26,657,000, comprising £26,100,000 in capital and £557,000 in revenue. The objective is to unlock housing on brownfield sites, with homes needing to start on site before 31 March 2031. The funding is conditional on delivering agreed outputs, milestones, and adhering to a specific spend profile. The programme proposes a hybrid delivery model, combining targeted strategic site interventions with an open call for smaller and medium-sized sites.

Closure of Cambridgeshire and Peterborough Business Growth Company Limited

The committee resolved to recommend that the Combined Authority Board approve the shareholder documentation to facilitate the capital reduction and subsequent closure of the Cambridgeshire and Peterborough Business Growth Company Limited (Growth Co). This follows the earlier decision by the Combined Authority Board on 16 October 2024 to wind up the company. The reduction of share capital is necessary to complete the orderly winding up of the company, with the directors having confirmed the company's solvency. The assets of Growth Co, which include unlisted equity shareholdings in nine SMEs, will be transferred back to the Combined Authority.

Officer Decisions

The committee noted the Officer Decisions made for projects under the Single Assurance Framework delegation from Funding Panels held on 02 June, 01 July, and 28 July 2026. These decisions, made under delegated authority, included approvals for the Free Car Parking initiative in Peterborough, the Mayor's Day Out project, core funding for the Growth Hub, and funding for Further Education Industry Placements and Teacher Exchange programmes in construction. Other noted decisions involved funding for the Careers Hub, and the Homelessness, Rough Sleeping and Domestic Abuse Grant. Several change requests were also noted, including additional funding and time extensions for projects such as Guyhirn to March, Whittlesea Station, Cygnet Bridge, and the Regulators' Pioneer Fund (Round 4) - Digital Platform for Businesses.

Work Programme

The Funding Committee noted its Work Programme for the upcoming period.