Decision Maker: Cabinet
Decision status: Recommendations Approved
Is Key decision?: Yes
Is subject to call in?: Yes
The purpose of this report was to seek Cabinet approval to the full business case for phase 3 of the ARU Peterborough University programme. The Council was a shareholder in the company overseeing the development of the business case, and its approval was a shareholder consent matter requiring explicit approval from Cabinet.
Cabinet considered the report and RESOLVED to:
1. Approve the Full Business Case for phase 3 of the university programme.
2. Note the work described in section 4.9 of the report to identify ways to measure the full impact of the new university in Peterborough and the region.
3. Note the formation of a new Peterborough Skills Partnership Board, as described in section 4.10 of the report.
Approval of the business case was a matter reserved to shareholders of the Peterborough HE Property Company Ltd.
To not bring the business case forward for approval: although it was possible for the development of the phase three building to proceed without the business case being approved, not doing so was likely to call into doubt the Council’s overall support for the university programme, would not enable the Council to endorse and validate the financial case, and would not enable the Council to appropriately monitor and challenge the development as it comes forward over the next few months.
Publication date: 16/01/2023
Date of decision: 16/01/2023
Decided at meeting: 16/01/2023 - Cabinet
Effective from: 20/01/2023