Decision details

Economic Infrastructure Fund - May 2014 Funding Decisions

Decision Maker: Executive

Decision status: Decision Made

Is Key decision?: No

Is subject to call in?: Yes

Purpose:

Purpose of Report: To present proposals for Cabinet decision on Economic Infrastructure Fund (EIF) investment. Members are asked to approve the proposed spend.

Decision:

Resolved:  That Cabinet agree to:

 

(i)           Approve Economic Infrastructure funding (EIF) of £175k for the Hungate Public Realm project, pending appropriate consultation with residents and businesses in the area, and with the intention that detailed plans for the development will be brought back to Cabinet in due course for final sign off. 

 

(ii)          Approve in principle and subject to business case, the £75K from the EIF to support development of the Biovale cluster.

 

(iii)        Delegate responsibility to the Council’s Chief Executive and Director for Customer and Business Support Services (and CYC’s s151 Officer) for receiving the business case for this funding when it is prepared, and if approved, releasing the £75K for spend.

Reason:     To approve investment required to create a world class quality destination in and around Hungate as a vital gateway to the city centre and to support development of the Biovale innovation cluster.

 

Report author: Katie Stewart

Publication date: 06/05/2014

Date of decision: 06/05/2014

Decided at meeting: 06/05/2014 - Executive

Effective from: 09/05/2014

Accompanying Documents:

 

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