This report presents a strategy document outlining the Warwickshire Recovery and Investment Fund Investment activities and sets out the Warwickshire Recovery Investment Fund business plan for 2023/24-2027/28.

Portfolio Holder – Councillor Peter Butlin

Councillor Peter Butlin (Deputy Leader of the Council) explained that the report presented a refreshed strategic document outlining the Warwickshire Recovery and Investment Fund’s investment activities.  The objectives of the WRIF were comprehensively detailed in the report.

Councillor Isobel Seccombe welcomed the report and the Council’s flexibility to respond to business need in the county.

Resolved:

That Cabinet:

1.     Approves the Warwickshire Recovery Investment Fund (“WRIF”) Investment Strategy attached at Appendix 4 to the report;

2.     Approves the WRIF Business Plan attached at Appendix 5 to the report;

3.     Authorises the Strategic Director for Communities in consultation with the Portfolio Holder for Finance and Property to make such additional changes to the Investment Strategy as he considers necessary but only where such changes do not reduce or remove any of the current checks and balances on investments included within the Strategy or Business Plan; and

4. Authorises the Strategic Director for Communities in consultation with the Portfolio Holder for Finance and Property to update the process for BIG Fund assessments as set out in Section 4.5 of the report.