Subscribe to updates
You'll receive weekly summaries about West Midlands Combined Authority Council every week.
If you have any requests or comments please let us know at community@opencouncil.network. We can also provide custom updates on particular topics across councils.
Prefer no ads? Become a Supporter for £3.50/month
Investment Board - Monday 19th October 2026 10.00 am
October 19, 2026 at 10:00 am Investment Board View on council website Watch video of meeting Read transcript (Professional subscription required)Summary
Open Council Network is an independent organisation. We report on West Midlands Combined Authority and are not the council. About us
The West Midlands Combined Authority's Investment Board met on Monday 19 October 2026. The Board approved several loan extensions and new loans, including a £3,100,000 loan extension and an additional £800,000 loan for Craig Watts Anchor Point, a £1,655,000 loan for Colmore Capital, a £9,000,000 loan for Bridges & Graftongate 95 JV, and a £1,021,429 loan extension for CDP Developments Ltd - Abbotts Lane. The Board also received updates on the Investment Programme, the City Region Sustainable Transport Settlement, and various investment fund dashboards.
Investment Programme Update
The Investment Board noted that no new business cases had been approved under delegated authority by WMCA Officers since the previous meeting. A single Change Request had been approved at the prior Investment Board meeting on 21 September 2026. The Board was informed that the Investment Programme funding awarded and allocated to projects within the programme remained at £871 million, which was fully utilised by earmarked contributions. The current commitment stood at £835.2 million, with £757.5 million in costs incurred or drawings made. The Board noted the overall funding status and the current affordable limit for the WMCA Investment Programme, as well as the delivery update for the Regional Investment Programme.
City Region Sustainable Transport Settlement (CRSTS) Update
Phil Havenhand, the programme lead for the City Region Sustainable Transport Settlement (CRSTS), presented an update on the programme's progress during the first quarter of the financial year 2026/2027. The programme was on track to meet its projected spend of £1.055 billion by the end of March 2027, against a total grant of £1.182 billion. Spend in the first quarter was £75.4 million, slightly exceeding the forecast of £74.5 million. Funding approvals continued, with an additional £10.5 million approved during the period, bringing the total CRSTS approvals to £1.287 billion against the £1.182 billion settlement. This over-programming aims to maximise delivery and minimise the risk of the Department for Transport clawing back uncommitted grant. Local contributions of £125 million had been achieved, exceeding the £120 million requirement. The report included detailed appendices outlining historic spend against forecast at local authority and WMCA levels for the 2025-2026 financial year, as well as project-level spend for the first quarter of 2026-2027. Future reports will include explanations for any project slippage or underspending.
Commercial and Residential Investment Fund Dashboards
The Board noted the dashboards for the Commercial Investment Fund and the Residential Investment Fund. These funds are crucial for supporting development and regeneration projects across the West Midlands.
Craig Watts Anchor Point - CIF Loan
The Board approved a loan extension of £3,100,000 for a term of two and a half years to 'the Company' under the Commercial Investment Fund/Residential Investment Fund. Additionally, an extra loan of £800,000 for the same term and fund was approved. Authority was delegated to the Director of Commercial and Investment for the negotiation and finalisation of the loan terms.
Colmore Capital - CIF Loan
A loan of £1,655,000 for a term of four years to 'the Company' under the Commercial Investment Fund/Residential Investment Fund was approved. Similar to the previous item, authority was delegated to the Director of Commercial and Investment for the negotiation and approval of the final loan terms.
Bridges & Graftongate 95 JV - CIF Loan
The Board approved a loan of £9,000,000 for a term of two years to 'the Company' under the Commercial Investment Fund/Residential Investment Fund. Authority was delegated to the Director of Commercial and Investment for the negotiation and approval of the final loan terms.
CDP Developments Ltd - Abbotts Lane - CIF Loan Extension
An extension of the loan by £1,021,429 for a term of 24 months to 'the Company' under the Commercial Investment Fund/Residential Investment Fund was approved. Authority was delegated to the Director of Commercial and Investment for the negotiation and finalisation of the loan terms.
East Birmingham Bus Depot Development Update
The Board noted the briefing note concerning the East Birmingham Bus Depot Development Update.
Mell Square Update
The Board noted the update on Mell Square and endorsed the proposed decision route.
Forward Plan
The Board noted the Forward Plan, indicating upcoming items for future meetings.
An Overview of the WMCA's Loan Funds
The Board noted the overview of the WMCA's loan funds.
Delegated decisions linked to this meeting
Decision summaries below are AI-generated from the council’s published record. Check the council source or the full decision page before relying on them.
-
West Midlands Combined Authority Investment Board noted the Forward Plan on 19/10/2026.
-
The Investment Board approved the minutes of the meeting held on 21 September 2026. This decision was made on 19 October 2026.
-
Bridges & Graftongate 95 JV- CIF loan
For DeterminationWest Midlands Combined Authority Investment Board decided to approve loan funding under the Commercial Investment Fund on 19 October 2026.
-
The Investment Board of West Midlands Combined Authority noted the Commercial Investment Fund Dashboard on 19 October 2026.
-
Update Report - City Region Sustainable Transport Settlement
For DeterminationThe Investment Board of West Midlands Combined Authority noted the progress made on the CRSTS programme during Quarter 1 of the financial year 2026/2027. This decision was made on 19/10/2026.
-
Colmore Capital - CIF Loan
For DeterminationWest Midlands Combined Authority Investment Board decided to approve loan funding under the Commercial Investment Fund on 19/10/2026.
-
CDP Developments Ltd- Abbotts Lane -CIF Loan Extension
For DeterminationThe Investment Board decided to approve an extension to a loan made under the Commercial Investment Fund on 19 October 2026.
-
West Midlands Combined Authority Investment Board noted the Residential Investment Fund Dashboard on 19/10/2026.
-
Craig Watts Anchor Point -CIF Loan
For DeterminationWest Midlands Combined Authority Investment Board decided to approve loan funding under the Commercial Investment Fund on 19 October 2026.
-
The Investment Board of West Midlands Combined Authority noted the status of the Investment Programme funding and delivery updates. No business cases were approved under delegated authority by WMCA Officers since the previous meeting. One Change Request approved at the previous meeting on 21 September 2026 was also noted.
Attendees
Topics
Meeting Documents
Additional Documents