The Funding Committee of the Cambridgeshire and Peterborough Combined Authority is scheduled to consider several significant funding proposals, including a substantial business case for the Brownfield Housing Fund Programme and a regeneration project in Wisbech. The committee will also receive updates on the authority's subsidiary companies, equity interests, and overall project progress.

Brownfield Housing Fund Programme and Wisbech Regeneration Project

A key focus of the meeting will be the consideration of the Full Business Case for the Brownfield Housing Fund Programme, which seeks approval for £26,660,696 in funding. This programme aims to deliver new homes on brownfield land by addressing viability gaps and market failures, with an objective to unlock at least 870 new homes by March 2031. The fund will operate through a hybrid model, with a targeted first wave from an existing pipeline and an open prospectus for later waves. The report details a rigorous appraisal framework, including ten mandatory gateways, to ensure value for money and alignment with strategic priorities.

Alongside this, the committee is scheduled to review the Concept Form for the 11/12 High Street Wisbech Regeneration Project, requesting £1,500,000 of funding from the Local Growth Fund. This project aims to redevelop a brownfield site in Wisbech into a mixed-use building comprising six residential units and ground-floor commercial or community space. The proposal highlights the persistent market failure affecting the site and its potential to act as a catalyst for wider regeneration in Wisbech, addressing issues such as declining town centre vitality and underutilised heritage assets.

Officer Decisions and Combined Authority Interests

The committee will also note Officer business case decisions for projects under £2m, as outlined in the Single Assurance Framework Business Case Approvals: Officer Decisions report. These decisions, made under delegated authority, cover various initiatives including skills development, investment funding, and changes to existing project timelines.

Furthermore, the committee is scheduled to receive an update on the Combined Authority Subsidiary Companies and Equity Interests. This report will detail the current position of the Combined Authority's shareholdings and other commercial arrangements, including its investments in companies such as Peterborough HE Property Company Ltd and Peterborough R&D Property Company Ltd, which support the Anglia Ruskin University (ARU) campus in Peterborough. The report includes a RAG rating assessment of the portfolio's performance and valuation.

Project Progress and Work Programme

A Project Progress Report, including the Strategic Projects Dashboard and Portfolio Dashboard, will be presented. This report provides an overview of the progress of key strategic projects, such as the Peterborough Station Quarter and the Bus Reform Programme, alongside a summary of the wider CPCA portfolio of 78 projects and programmes. The RAG ratings for these projects will indicate their current delivery status.

Finally, the committee will review its Work Programme for the upcoming year and confirm the date of the next meeting.