1. To
approve the Full Business Case for the Albert Gubay Business School.
2. To
approve an additional £143,000 from the Cost Inflation Reserve to deliver the
project.
3. To
authorise the Portfolio Director, in consultation with the Chair, Vice-chair,
Section 151 Officer and Monitoring Officer to agree and enter into a funding
agreement with Bangor University for the delivery of the project, on the basis
that Bangor University satisfactorily addresses the outstanding issues,
including the increase in procurement costs.
4. It
was confirmed that the Sub-committee's approval is valid for a period of six
months and should the project not proceed to a signed funding agreement during
this time, it will be required to return
and re-present the business case to the Sub-committee for approval.