Table 1 Growth Deal 1- Current Position – 2015/2016 2016/2017 2017/2018 Total Project Project LGF Base LGF Base LGF Base Key Milestones Significant Risks Phase Budget Budget Budget Planning permission Worcester Business £1,000,000 £4,000,000 £0 £5,000,000 Future Reserved Matters 5th March 2015 granted Technology Case planning applications refused Park Development Capacity of WCC contractor to 31st March 2015 Agreement signed deliver alongside other priorities Off-Site Detailed Design 17th April 2015 complete Target Price Agreed 30th May 2015 Off-Site Highways construction 30th June 2015 commences Off-Site Highways 30th June 2016 construction completes 5th January Malvern Hills On site £1,000,000 £3,000,000 £0 £4,000,000 Cost overruns due to site Started on site 2015 Science conditions (e.g. asbestos etc) Park Occupancy by UTC November 2015 Preferred site identified 31st March 2015 Centre of Business £800,000 £0 £0 £800,000 Failure to identify suitable site Vocational Case Not Aid compliant @ Business Case Excellence 13th March 2015 proposed 50% intervention submitted rate Independent Appraisal 27th March 2015 by SFA Funding Approval 2nd April 2015 Decision by LEP Board Construction works start July 2015 New facility open September 2015
Project Project Phase 2015/2016 LGF Base Budget 2016/2017 LGF Base Budget 2017/2018 LGF Base Budget Total Key Milestones Significant Risks Worcester Technology Park Business Case £1,000,000 £4,000,000 £0 £5,000,000 Planning permission granted 5th March 2015 Future Reserved Matters planning applications refused Capacity of WCC contractor to deliver alongside other priorities Development Agreement signed 31st March 2015 Off-Site Detailed Design complete 17th April 2015 Target Price Agreed 30th May 2015 Off-Site Highways construction commences 30th June 2015 Off-Site Highways construction completes 30th June 2016 Malvern Hills Science Park On site £1,000,000 £3,000,000 £0 £4,000,000 Started on site 5th January 2015 Cost overruns due to site conditions (e.g. asbestos etc) Occupancy by UTC November 2015 Centre of Vocational Excellence Business Case £800,000 £0 £0 £800,000 Preferred site identified 31st March 2015 Failure to identify suitable site Not Aid compliant @ proposed 50% intervention rate Business Case submitted 13th March 2015 Independent Appraisal by SFA 27th March 2015 Funding Approval Decision by LEP Board 2nd April 2015 Construction works start July 2015 New facility open September 2015 Table 1 – Growth Deal 1- Current Position