Decision details

1. Cabinet noted the 2 funding bids detailed in the report recognising that if successful they will require match funding of up to £6m.

2. Cabinet authorised the Executive Director for Growth and Regeneration (in consultation with the Director for Finance, the Director for Management of Place and the Cabinet Member for Transport and Energy), to accept the funding award for Bid A of £3.88m and to thereafter deliver the project detailed in the report, including the procurement of all necessary contracts (goods, services or works) which may include individual contracts above the key decision threshold, and including the use of council match funding of up to £1,104m

3. Cabinet authorised the Executive Director for Growth and Regeneration (in consultation with the Director for Finance, the Director for Management of Place and the Cabinet Member for Transport and Energy), to proceed with the development and submission of a Full Business Case for the Bid B (subject to a successful Expression of Interest) with a further report to Cabinet should the bid be successful.

4. Cabinet authorised the use of the Councils Highways Maintenance Budget for match funding in respect of both projects, to the extent that this cannot be secured from other sources, up to a maximum of £2.2m.