Purpose

To agree an increase in value offered as an
investment to Wye Valley Trust to enable the development of an
Education Centre at Hereford County Hospital. To further explore
options around a strategic investment partnership and bring a
business case back to cabinet for approval in Autumn 2024. Wye Valley Trust produced a cost plan
in July 2023 which has been uplifted to reflect an estimate of
price increases applicable to the scheme in order to arrive at a
realistic assessment of total costs. Based on these costs at this
point in the process WVT have anticipated they would require a loan
of £15million from Herefordshire Council.

Decision

That:
 

a)   
 Cabinet to note progress on the
development of the business case to enable the development of an
Education Centre at Hereford County Hospital and the potential
increase of the capital investment up to £15million subject
to final approval of business case and funding.

a)