On 14
December 2021, Cabinet:-
(i) noted the acceptance of
£4.474m of GBSLEP EZ funding approved on 7 March 2018 by GBSLEP Programme
Delivery Board as a contribution towards the delivery of the Metro Extension to
Centenary Square scheme, noting that this is in addition to £15.950m already
secured;
(ii) approved the City
Council, acting as the Accountable Body for the GBSLEP Enterprise Zone,
prudentially borrowing up to £4.474m to contribute towards the delivery of the
Metro Extension to Centenary Square for both the enhanced materials used within
this Metro Extension and to cover a reduced contribution from the Paradise
Development;
(iii) authorised the Director
of Council Management to passport this funding to the WMCA, as payment for both
the enhanced materials used within this Metro Extension and to cover a reduced
contribution from the Paradise Development, subject to the Deed of Variation
being signed by the City Council and WMCA;
(iv) authorised the City
Solicitor to negotiate, execute, seal and complete all necessary documentation
to give effect to the above recommendations.
THE
DEADLINE FOR CALL IN IS 1600 HOURS ON MONDAY 20 DECEMBER 2021.