THAT: the Joint Committee

(a)            approve Scenario 3, as outlined in this report, as the investment approach to take, with an amendment to provide £100k a year from the additional business rates to help meet LEP running costs from 2016/17 onwards for the duration of the model;

(b)           business rates generated by the enterprise zone be used to fund the additional investment required;

(c)            recognise that the enterprise zone funding stream is one of the potential sources for the Wye river crossing, but that this funding need not be quantified at this time; and

(d)           ask Herefordshire Council to keep the Marches LEP board informed of progress with the implementation of the Herefordshire Local Development Framework.