Decision details

i54 Western Extension - Grant Agreement - BC LEP (Local Growth Fund and Land and Property Investment Fund)

Decision Maker: Cabinet Member for City Economy

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

The report details the various contributions towards delivery of the Western Extension at i54 and seeks authority to accept the LEP grants and enter into associated grant agreements.

Decision:

1.            Accepted the Black Country Local Enterprise Partnership’s (BCLEP)’s dual grant offer for the total sum of £5m (£2.5m from Local Growth Fund and £2.5m from Land and Property Investment Fund) for Platform Preparation Works to support the i54 Western Extension Project.  

2.            Authorised the Council to enter into a Grant Agreement and a letter of guarantee with Walsall Metropolitan Borough Council (the LEP’s Accountable Body for the Land and Property Investment Fund) in order to secure these funds.

3.            Noted that the capital expenditure budget of £5m to utilise the grant was approved by Council on 18 September 2019.

Publication date: 14/05/2020

Date of decision: 24/04/2020

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