The Investment Board of the West Midlands Combined Authority (WMCA) met on Monday 23 March 2026 to discuss a range of investment programmes and projects. Key decisions included the approval of significant funding for bus priority measures along the A41 Soho Road corridor and the noting of progress updates on the City Region Sustainable Transport Settlement (CRSTS) programme.

Investment Programme Update

The board received an update on the overall WMCA Investment Programme, noting that as of 28 February 2026, approved grant funding awarded and administered by the WMCA to programmes within the Regional Investment Programme totalled £842.6 million. Since the previous meeting, two Change Requests have been approved under delegated authority for the UK Central Infrastructure Programme: Kingshurst Village Centre received a 15-month extension with no change to its £5.7 million funding limit, and the Sustainable Energy UKC Hub Low Carbon Heat Network received a 12-month extension with no change to its £200,000 funding limit. The report highlighted that nine schemes currently have a RED status for completion dates, indicating potential delays, and the Programme Assurance and Appraisal team is working with Project Sponsors to address these.

Commercial Investment Fund Dashboard

The board noted the public iteration of the Commercial Investment Fund (CIF) dashboard as of 1 February 2026. The dashboard details investments committed and repaid, with live outputs showing 23 transactions, 3,887 jobs created, and £8.03 million in annual business rates generated from committed investments totalling £150.14 million.

Residential Investment Fund Dashboard

Similarly, the board noted the public iteration of the Residential Investment Fund (RIF) dashboard as of 1 February 2026. Live outputs indicate 8 transactions, 261 jobs created, and 1,725 homes created from committed investments totalling £67.02 million.

Brownfield Land & Property Development Fund Dashboard

The board also noted the public iteration of the Brownfield Land and Property Development Fund (BLPDF) dashboard as of 1 February 2026. This fund has committed £44.79 million, with live outputs showing 21 jobs created, 410 homes created, and £1.2 million in annual business rates generated.

City Region Sustainable Transport Settlement - Quarter 3 2025/26

An update was provided on the progress of the City Region Sustainable Transport Settlement (CRSTS) programme for Quarter 3 of the financial year 2025/26. As of 31 December 2025, £1.209 billion of CRSTS funding had been approved against the £1.171 billion settlement, with £574.9 million spent. The report highlighted that the most common risks across the programme are budget (23%), schedule (18%), and operational (12%). Key programme risks include inflationary pressures, potential public objections to projects reallocating road space, and supply chain disruption. The report also noted that approximately £108.5 million of local contribution has been achieved towards the programme's funding requirements.

Cross City Package 6 West Full Business Case

The board was asked to approve the Full Business Case for Cross City Bus Package 6 West, which seeks £13.005 million from the CRSTS funding to implement bus priority measures along the A41 Soho Road corridor between West Bromwich and Birmingham. This package is part of a wider programme aiming to improve bus journey times, reliability, and passenger experience, encouraging a modal shift to public transport. The scheme includes the delivery of bus lanes, improved bus shelters with CCTV, junction and crossing improvements, and enhanced passenger facilities. The Full Business Case received an 81% BCAT score, indicating a high likelihood of successful delivery. The board was recommended to approve the business case and the associated budget of £15.597 million, with a condition that updated cost confirmations are provided prior to construction.

Other Updates

The board also noted updates on the Investment Programme, the Commercial Investment Fund Dashboard, the Residential Investment Fund Dashboard, and the Brownfield Land & Property Development Fund Dashboard. Additionally, updates were provided on Housing Property & Regeneration - Development & Delivery Dashboards.