CYDNERTH OUTLINE BUSINESS CASE
Decision:
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.
Minutes:
The report was
presented by the Low Carbon Energy Programme Manager.
DECISION
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.
REASONS FOR THE DECISION
To seek the Board's approval of the Outline Business
Case for the Cydnerth project.
DISCUSSION
The report was
discussed.