Decision details

*RESOLVED –

1.    That the Council’s ongoing role in the delivery of the DRIIVe project, accepting the Towns Fund Grant and giving authority to move to delivery, be approved.

2.    That the grant contribution from the Council, via the business rate retention scheme, to provide up to £790,000 match funding for the project, be approved.

3.    That it be recommended to Full Council that match funding be included in the Capital Programme update which was due to be considered in July 2022.

4.    That, in line with grant funding conditions, it be agreed that the Council would cover any cost overruns associated with the physical delivery of the project.

5.    That the Service Director for Economic Growth, in consultation with the Deputy Leader, Cabinet Member for Economic Growth and the Council’s Property, Procurement and Contracts Manager, be granted delegated authority to finalise legal arrangements in relation to the existing lease and management agreement in respect of the commercial structure, management and operation of DRIIVe.

REASONS FOR DECISIONS

1.    The successful delivery of the DRIIVe project will support the growth of the rail sector and contribute to the future regeneration of the Borough through the development of specialist skills, research and development provision.

2.    The recommendations are made to ensure that Cabinet is provided with clarity regarding the role the council will undertake in the delivery of the DRIIVe project and to enable delivery to commence.