Issue - meetings

Report presenting for approval the change request for the Cygnet Bridge project, concept papers for the Strategic Investment and Innovation Growth Fund, and Littleport Business and Community Centre. Also presenting for note, previous Investment Committee and Chief Executive decisions.

It was resolved to:

A    Approve the change request and budget increase of £2m for the Cygnet Bridge project.

B    Approve the concept proposal for the CPCA Strategic Investment and Innovation Growth Fund and for it to be developed into a business case as the next stage.

C    Approve the concept proposal for Littleport Business and Community Centre and for it to be developed into a business case as the next stage.

D    Note the Chief Executive Approval Decisions from December 2024.

E    Note the decisions from Investment Committee held on 16 December 2024.

The PMO Programme Lead introduced the report and highlighted key points to members, clarifying that paragraph 5.2 of the report (referring to the Digital Connectivity Strategy Implementation) should have stated that the cost of year 1 is £1.8m.

The Mayor expressed delight that the Cygnet Bridge project, which began in 2022, has secured further investment to continue its development in the city.

Regarding the Strategic Investment and Innovation Growth Fund, it was noted that earlier work is needed to ensure equitable distribution of resources. Lessons learned from past experiences will be applied to reach areas that typically do not receive top priority.

It was emphasised that the fund should align with growth plans to create interventions that have the largest economic impact.

For the Littleport project, discussions focused on ownership and implementing different approaches. To ensure project viability, it was suggested to include mechanisms for clawback or ongoing interest, such as placing a charge on property. This would allow the Combined Authority to recoup funds if projects do not proceed as planned.

On being proposed by the Mayor, seconded by Nitin Patel, it was resolved unanimously to:

A    Approve the change request and budget increase of £2m for the Cygnet Bridge project.

B    Approve the concept proposal for the CPCA Strategic Investment and Innovation Growth Fund and for it to be developed into a business case as the next stage.

C    Approve the concept proposal for Littleport Business and Community Centre and for it to be developed into a business case as the next stage.

D    Note the Chief Executive Approval Decisions from December 2024.

E    Note the decisions from Investment Committee held on 16 December 2024.