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On 29 October 2019, Cabinet:-
(i) Accepted an annual revenue grant from the Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP) to support the costs of borrowing of up to £26,172,419 to deliver the HS2 Birmingham Curzon Station Enhanced Public Realm project, subject to the funding conditions set out in the offer letter at Appendix 1 to the report;
(ii) In its role as delivery partner for the project, approved City Council prudential borrowing up to £26,172,419 to fund delivery of the HS2 Birmingham Curzon Station Enhanced Public Realm project as set out in the outline business case and key appendices attached as Appendix 2 to the report. This includes up-front funding of £222,764 to develop the Full Business Case;
(iii) Under Part D2.5 of the Constitution, approved the entering into single contract negotiations jointly by the Director - Inclusive Growth and Chief Finance Officer with HS2 Ltd for up to £22,885,000 for the delivery of the HS2 Birmingham Curzon Station Enhanced Public Realm project;
(iv) Noted that a Full Business Case will be presented to Cabinet once the full scheme cost is defined as part of Stage 1 of the contractor procurement to design and build the Station in 2021. This will seek authority to enter into a Contract with HS2 Ltd for delivery of the enhanced public realm;
(v) Agreed to delegate the agreement of Heads of Terms with HS2 Ltd for the delivery of the HS2 Curzon Station Enhanced Public Realm project to the Leader and the Cabinet Member for Finance and Resources;
(vi) Noted that an independent cost consultant, Acivico Ltd, will be appointed to undertake an appraisal of all project costs in line with existing contractual arrangements to ensure they are value for money. The cost for this is included within the up-front funding;
(vii) Authorised the City Solicitor to negotiate, execute, seal and complete all necessary documents in connection with the above decisions.
THE DEADLINE FOR CALL IN IS 1600 HOURS ON MONDAY 4 NOVEMBER 2019.
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