Decision details

1.     To approve the Outline Business Case for the Cydnerth project, subject to Menter Môn Morlais Cyf, addressing the matters noted in the report, as described in Section 7.1, and requesting a Full Business Case to be prepared for the Board’s consideration.

2.     To authorise the Portfolio Director, in consultation with the Host Authority's Section 151 Officer and the Monitoring Officer, to agree on draft terms in accordance with the Report as a basis for the final financial arrangements for the project, which will determine the funding to be agreed by the Board at the Full Business Case stage.

3.     To note that the proposed funding model for the project is 100% commercial loan, subject to confirmation of the subsidy control position on approval of the Full Business Case, and approves in principle that the interest from the loan once the cost of borrowing payments for the loan element have been paid, is allocated to a reserve to be used to fund the Portfolio Management Office in future years.