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.