Decision details

To support the request for change from the Welsh Government and allocate additional funding from the Growth Deal and Investment Zone, subject to:

1.     ⁠Reaching an agreement on matters discussed in section 6.3(a) and (b) of the report.

2.     That the investment noted in part 6.3(c) of the report will be a funding condition to be implemented prior to the approval of the Full Business Case and/or for it to be included in the Grant Funding Agreement, whichever comes first.

3.     That the approval of the Full Business Case will be subject to the investment decisions in section 6.3(d).

To delegate to the Portfolio Director to discuss with the Welsh Government and UK Government the conditions imposed with final approval to be sought from the Economic Well-being Sub-committee (subject to the advice of the Monitoring Officer), in consultation with the Chair and Vice-chair.

That the Sub-committee notes that the splitting of funding between the Growth Deal and Investment Zone is the subject of separate discussions and decisions prior to the approval of the Full Business Case.