Agenda and minutes

Apologies were received from Councillor Tim Swift, Simon Wright and Jonathan King.

There were no disclosable pecuniary interests declared by members at the meeting.

1.    To highlight Appendix 1 to Agenda item 5 and Appendix 1 to Agenda item 7 which officers have identified as containing exempt information within the meaning of Schedule 12A to the Local Government Act 1972, and where officers consider that the public interest in maintaining the exemptions outweighs the public interest in disclosing the information, for the reasons outlined in the report.

2.    To consider whether or not to accept the officers’ recommendation in respect of the above information as set out in Appendix 1 to Agenda item 5 and Appendix 1 to Agenda item 7.

3.    If the recommendations are accepted, to formally pass the following resolution:-

RESOLVED – That in accordance with paragraph 3 of Part 1 of Schedule 12A to the Local Government Act 1972, the public be excluded from the meeting during consideration of Appendix 1 of Agenda item 5 and Appendix 1 of Agenda item 7 on the grounds that they are likely, in view of the nature of the business to be transacted or the nature of the proceedings, that if members of the press and public were present there would be disclosure to them of exempt information and for the reasons set out in the report that in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

RESOLVED -  That in accordance with paragraph 3 of Part 1 of Schedule 12A to the Local Government Act 1972, the public be excluded from the meeting during consideration of Appendix 1 of Agenda item 5 and Appendix 1 of Agenda item 7 on the grounds that they are likely, in view of the nature of the business to be transacted or the nature of the proceedings, that if members of the press and public were present there would be disclosure to them of exempt information and for the reasons set out in the report that in all the circumstances of the case, the public interest in maintaining the exemption outweighs the public interest in disclosing the information.

Copy Attached.

That the minutes of the Business Investment Panel held on 18 January 2018 be approved and signed by the Chair.

Led by: Lorna Holroyd

The Panel considered a report outlining the current position regarding progress in committing grants through the Leeds City Region Enterprise Partnership (the LEP) Strategic Inward Investment Fund (SIIF).

In private session the Panel was asked to consider one new application to the Strategic Inward Investment Fund Project Reference SIIF 004.

Resolved:

(i)            That the update be noted.

(ii)          That the Panel recommended that application Project Reference SIIF 004 be approved.

The Panel considered a report outlining the current position regarding progress in committing grants through the LEP Business Grants Programme (BGP).

The update included spend and outputs for the grant schemes funded through the Local Growth Fund (LGF).  To date commitments of £24.71 million have been made through a combination of the big and small schemes.  A further £3.18 million has been committed through the Business Flood Recovery Fund.

As outlined in previous papers, grants are now funded through a combination of the Business Growth Programme and Access to Capital Grants, both of which are funded through the LGF.

Resolved: That the Business Grants Programme Update be noted.

Led by: Chris Brunold

The Panel considered a report on progress in committing loans through the Leeds City Region Enterprise Partnership Growing Places Fund (GPF).

In private session the Panel was updated on the progress of one new loan application appraised as a Full Business Case and asked for feedback.

Resolved:

(i)            That the update be noted.

(ii)          That the Panel noted the application appraised at Full Business Case, as detailed at 2.4 and in Appendix 1 and agreed to recommend in principle subject to legal due diligence on security being satisfactory.

The Panel was presented with a report for information on the work underway to progress business and budget planning for 2018/19.

Resolved:  That the report be noted.

Tuesday  2 April 2018, 14:00 – 16:00, Committee Room A, Wellington House, Leeds.

Tuesday 3 April 2018 14:00 PM, Committee Room A, Wellington House, Leeds.