The Funding Committee recommended approval for significant funding for active travel and brownfield housing development, and also recommended the closure of the Cambridgeshire and Peterborough Business Growth Company Limited. The committee also noted officer decisions made under delegated authority.

Active Travel Consolidated Settlement 2026-2030

The committee recommended that the Combined Authority Board approve the Full Business Case and £24,465,000 for the Active Travel Consolidated Settlement 2026-2030. This funding, provided by the Department for Transport, will support a four-year capital and three-year revenue programme across Cambridgeshire and Peterborough. The programme aims to deliver infrastructure improvements, school and community initiatives, and behaviour change activities to encourage more walking, wheeling, and cycling. Key outcomes include improved connectivity to employment and education, safer routes, reduced congestion, and better health and wellbeing. The funding is crucial for maintaining the region's Active Travel England capability rating and securing future investment.

Brownfield Housing Fund Outline Business Case

The committee recommended approval of the Outline Business Case and the allocation of £557,000 in revenue funding from the Brownfield Housing Fund. A further £26,100,000 in capital funding is also allocated, with a Full Business Case to be submitted for future approval. This funding, provided by the Ministry of Housing, Communities and Local Government (MHCLG), aims to unlock housing development on brownfield sites by addressing viability gaps and market failure. The programme is expected to unlock between 850 and 1,300 new homes by March 2031. Delivery will be managed through a hybrid model, combining targeted strategic site interventions with an open call for smaller and medium-sized sites. The funding is conditional on meeting agreed outputs, milestones, and spend profiles, and requires evidence of value for money, market failure, and alignment with local plans.

Closure of Cambridgeshire and Peterborough Business Growth Company Limited

The committee unanimously recommended that the Combined Authority Board approve the shareholder documentation and delegate authority to the Chief Executive Officer to sign the relevant documents to give effect to an approved share capital reduction. This action is necessary to complete the orderly winding up and closure of the Cambridgeshire and Peterborough Business Growth Company Limited (Growth Co). The Growth Co was established in August 2020 to manage the 'Growth Works' programme, which concluded at the end of December 2023. With all delivery activities transferred back to the Combined Authority and financial reconciliation complete, the reduction in share capital is required to finalise the closure process. The directors have confirmed the company's solvency and that the reduction is in the best interests of the company and its shareholders.

Officer Decisions

The committee noted the Officer Decisions for projects under the Single Assurance Framework delegation from Funding Panels held on 02 June, 01 July, and 28 July 2026. These decisions, made under delegated authority, included approvals for various projects such as free car parking initiatives in Peterborough, the 'Mayor's Day Out' project, core funding for the CPCA Growth Hub, and funding for Further Education Industry Placements and Teacher Exchange programmes in construction. Other noted decisions included funding for the Careers Hub, and the allocation of the Homelessness, Rough Sleeping and Domestic Abuse Grant. Several change requests were also noted, including additional funding and time extensions for projects like 'Guyhirn to March', 'Whittlesea Station', 'Cygnet Bridge', and the 'Regulators' Pioneer Fund'.

Work Programme

The committee noted its Work Programme for the upcoming months, outlining the key items scheduled for discussion at future meetings. This included ongoing consideration of business cases, change requests, project progress reports, and the review of the committee's terms of reference.