Agenda item

Report enclosed.

The committee considered the latest Investment Fund report (agenda item 12).

The Chair highlighted the following points:

1. He reminded members that in June, the committee agreed an overall funding envelope of £350m for the period up to March 2023, reflecting their strong ambitions to drive forward projects which will bring very significant, positive improvements and impacts for residents right across the region.

Within that context, the report set out details of the latest required project-specific approvals including:

·         A Full Business Case for Great Stoke Roundabout capacity improvements, with funding of £2.91m for the implementation of the scheme.

·         An allocation of £3.9m to support the Future Mobility Zone bid.

·         A further £1.2m of funding to continue to progress the development work for the Housing Infrastructure Fund (HIF) - Bristol Temple Meads to Keynsham Strategic Growth Corridor A4/A37 project.

·         Details of the Bath Riverside Land Acquisition Fund submission as approved through delegation.

·         Funding of £50k to address the challenge of the lack of evidence/research around Careers Education, Information, Advice and Guidance and to determine what interventions could potentially come forward to improve this.

·         A Full Business Case seeking £1.3m for WE Work for Everyone which would target people with a learning difficulty to support them to achieve and maintain paid employment.

·         A Full Business Case seeking £3.6m to extend and develop the current Future Bright Innovation Pilot for a further 3 years.

·         £50k to progress the Working Well Institute.

2. With specific regard to the Quantum Technologies Innovation Centre project+ referred to in paragraph 29 of the report, the Chair advised that a supplementary note had been circulated to members (and published on the Combined Authority website) providing an update on the due diligence work undertaken by Ernst and Young.  This essentially satisfied the requirements set by the committee when they approved an Investment Fund allocation for this project in June.

The Chair advised that as per the proposal set out in the supplementary note, and following discussion with all the authorities, there was an amendment to add an additional recommendation 11 to the report, as follows:

That an additional recommendation 11 be added as follows:

“11. To note the points to be addressed in contractual and monitoring arrangements with the University of Bristol for the delivery of QTIC+ as set out in paragraph 5 and 6 of the supplementary note; and to delegate the approval of achievement of the conditions precedent to the WECA Chief Executive in consultation with the Chief Executives of the constituent Councils, with a further report to be presented to the Committee should there be issues requiring a further decision.”

The report recommendations, as amended above were then moved by the Chair and seconded by Mayor Rees.

Cllr Savage generally welcomed the report, also drawing attention to the benefits for pedestrians and users of all modes of transport that would be brought through the Great Stoke roundabout capacity improvements.  He also particularly welcomed the investment proposed to take forward the Future Mobility Zone(s) and, in relation to business and skills investment, to further develop the Future Bright project.

Whilst welcoming the particular investment relating to Bath Riverside, Cllr Romero commented that it was encouraging to see the full span of investment in a wide range of projects that would bring benefits to residents right across the region.

Mayor Rees particularly welcomed the investment in the WE Work for Everyone project which was focused on supporting people with a learning difficulty to achieve and maintain paid employment.  He also thanked officers for their work in assisting the progression of the Quantum Technologies Innovation Centre+ project; this project formed a key element in redeveloping the Cattle Market Road site near Temple Meads railway station and was a catalytic, key regional project/development..

The Chair then moved to the voting on the recommendations.

The committee RESOLVED:

1. To approve the delegations for changes to schemes within the approved programme set out in Appendix 1.

2. To approve the Full Business Case for Great Stoke Roundabout capacity improvements and a total award of £2.91m.

3. To approve the allocation of £3.9m for the Future Mobility Zone subject to securing the DfT funding and business case.

4. To approve the change request and the award of an additional £1.2m for the HIF Outline Development Work.

5. To note the Land Acquisition Fund Assessment Criteria shown in Appendix 7 and the approval of the Full Business Case for Bath Riverside and award of up to £9m through the granted delegation.

6. To approve the Feasibility and Development funding application for the Careers Advice Analysis and the award of £50,000 to produce a report outlining prioritised co-designed interventions.

7. To approve the Feasibility and Development funding application for the Working Well Institute and the award of £50,000 to produce an Outline Business Case.

8. To approve the Full Business Case for WE Work for Everyone and award of £1.3m subject to securing ESF funding, development of the Procurement Plan, supply of a detailed programme and finalising the Monitoring and Evaluation Plan.

9. To approve the Full Business Case for Future Bright Plus and award of £3.6m subject to the supply of a detailed risk register, cost breakdown and project plan, and finalising the Monitoring and Evaluation Plan.

10. To approve the change requests for schemes within the current programme set out in Appendix 8.

11. To note the points to be addressed in contractual and monitoring arrangements with the University of Bristol for the delivery of QTIC+ as set out in paragraph 5 and 6 of the supplementary note; and to delegate the approval of achievement of the conditions precedent to the WECA Chief Executive in consultation with the Chief Executives of the constituent Councils, with a further report to be presented to the Committee should there be issues requiring a further decision.