Decision details

The Joint Committee RESOLVED:

1. To approve the LEP Budget for 2022/23 as set out in Appendix 1.

2. To approve a 2022/23 contribution of £110k per each West of England Unitary Authority, (to be reviewed for 2023/24 onwards), as match funding to attract the government’s LEP Capacity Funding.

3. To approve a £160k drawdown from the LEP General Reserve to fund the shortfall in 2022/23 LEP operating costs.

4. To note the forecasted LEP revenue outturn for 2021/22 as set out in Appendix 2.

5. To delegate the approval of the reallocation of funds through the Getting Building Fund, (GBF), and Economic Development Fund for schemes within the programme on an overall cost neutral basis, to the Combined Authority Chief Executive in consultation with the Chief Executives of the constituent councils.

6. To approve the Outline Business Case for Thornbury High Street and allocate £4.577m for the delivery of the scheme from the EDF, pending ongoing discussions about Investment Fund headroom, and where there is urgency to delegate the approval of the Full Business Case to the Combined Authority Chief Executive in consultation with the West of England Chief Executives.

7. To approve the change requests for schemes within the Local Growth and Getting Building Fund programmes as set out in Appendix 3.

8. To approve the change requests for schemes within the Economic Development and Revolving Infrastructure Fund programmes as set out in Appendix 4.