Venue: Committee Room A, Wellington House, Leeds. View directions
Contact: Ruth Chaplin Email: firstname.lastname@example.org
Apologies for Absence
Apologies for absence were received from Councillors Ian Gillies and Denise Jeffery.
Declarations of Disclosable Pecuniary Interests
In respect of agenda item 6, Capital Spending & Project Approvals (Leeds University High Speed Rail College), Roger Marsh OBE declared an interest as a member of the University of Leeds Council.
Exempt Information - Possible Exclusion of the Press and Public
1. To highlight Appendix A to Agenda 7 and Appendices A and B to Agenda Item 8 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 exemption 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 at paragraph 4.1 of Agenda Item 7 and paragraph 6.1 of Agenda Item 8.
3. If the recommendation is 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 A to Agenda Item 7 and Appendices A and B to Agenda Item 8 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 A to Agenda Item 7 and Appendices A and B to Agenda Item 8 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.
Further to minute 36, Capital Spending and Project Approvals (Enterprise Zone Phase 2), it was reported that feasibility work was being undertaken and a report would be prepared for a future meeting of the Committee.
Further to minute 36, Capital Spending and Project Approvals (Leeds District Heat Network), it was reported that further work was being done on the business case and this would be considered at a future meeting of the Committee.
Resolved: That the minutes of the West Yorkshire and York Investment Committee held on 8 March 2017 be approved and signed by the Chair.
The Committee considered a report which provided an update on:
· the terms and conditions for receipt of the Growth Deal award 2017/18 including Key Performance Indicators;
· progress made in implementing and achieving Growth Deal target expenditure 2016/17;
· the Growth Deal 2019/20 Review progress;
· profiled expenditure for the 2017/18 financial year; and also to seek agreement to endorse the revised estimate of profiled expenditure on the Programme up to 2020/21; and
· to agree the source of budget for the Finance Yorkshire Extension Fund.
Members noted the payment arrangements for the Growth Deal for 2017/18. This included the revised payment schedule for the remainder of the programme and the progress towards achievement of the seven proposed KPIs which were detailed in Appendix A. In noting the revised spending profile which included the additional Growth Deal 3 allocation, it was highlighted that the profile did not match the Dashboard attached at Appendix B. This was because the profile is based on currently approved projects and the Dashboard includes estimates of pipeline spend which cannot be verified until the Full Business Case and Finalised Costs are approved.
It was reported that, subject to confirmation in the WYCA statutory financial accounts, the final outturn spend on the Growth Deal 2016/17 was £84.77m which represented 98% achievement of profiled spend.
The progress and overall programme risk with projects in the West Yorkshire plus Transport Fund Pipeline, detailed in Appendix C, was noted. Members endorsed the proposal for additional criteria to be taken into consideration when considering the Red, Amber, Green (RAG) rating of pipeline projects which were outlined in the submitted report.
The Committee noted the table in paragraph 3.9 of the report which detailed the forecast timetable for achieving the two main output targets for the Growth Deal – the creation of 10,000 jobs and building 2,000 new homes. It was recognised that some projects would only achieve the outputs indirectly and, in order to be able to claim these outputs, all LEPS had to identify Growth Deal impact sites to be mutually agreed with the Government. This opportunity will be used to engage in further discussions with the Government to consider a wider acknowledgement of the outputs achieved by the Programme.
It was reported that a Gateway Review of the West Yorkshire plus Transport Fund was to be undertaken and SQW Consultants had been appointed at a national level to undertake the Growth Deal progress reviews. The principles of a National Framework had been developed by SQW and a summary was attached at Appendix D to the submitted report. Following agreement of the National Framework, SQW will work with the Leeds City Region to develop a ‘Locality Framework’ and this will be brought to a future meeting of the Investment Committee for consideration.
Members discussed the Finance Yorkshire Extension Fund and supported the proposal to specifically allocate the £511,500 already approved from the Access to Capital Grants programme. They recommended that as the loans were repaid the income to WYCA should be recycled into ... view the full minutes text for item 42.
The Committee considered a report on proposals for the progression of, and funding for, a number of West Yorkshire plus Transport Fund and Growth Deal projects at Stages 1, 2 and 3 of the Assurance Process.
The summary business cases for the following 19 schemes, which were attached as
appendices to the submitted report were considered:
The Committee discussed the ULEV Taxi Scheme and it was noted that discussions would continue with the local authorities over the next few months. The development costs required to progress the scheme would be funded from the OLEV grant.
Members discussed the Activity 6 Exception Report for Wakefield Civic Quarter and noted that a condition of the approved £1.1m grant was that it was repaid to a maximum of £1.1m from a 50:50 share of any disposal proceeds. The Investment Committee recommended that if the disposal involved a complex funding package and a lesser share was proposed, a further exception report would brought to the Investment Committee for consideration.
It was noted that all schemes entering into the Assurance Process are considered for the eligibility for WYCA funding through an assessment of an Expression of Interest. There were currently two schemes under consideration which have been submitted with no current funding source available, Bradford Darley Street and Leeds University High Speed Rail College and these could be submitted to a future meeting of the Investment Committee for consideration should funding become available.
The Committee was provided with details of approvals made through delegation to WYCA’s Managing Director for the following schemes:
· Project Primrose – Global Shared Services Centre Decision Point 4 (Full Business Case)
· West Yorkshire Cycling & Walking to Work Fund Decision Point 5 (Full Business Case with Finalised Costs)
· West Yorkshire & York Broadband Programme (Change Request)
It was also reported that the following five schemes had progressed from the Programme Appraisal Team (PAT) directly to WYCA on 6 April 2017:
· West Yorkshire Cycling & Walking to Work Fund Case Paper (Activity 2)
· National Productivity Investment Fund (NPIF) Case Paper (Activity 2)
· Global Shared Services Centre Case Paper (Activity 2)
· Leeds City Region HS2 Growth Strategy Phase 2
· Steeton and Silsden Active ... view the full minutes text for item 43.
The Committee considered a report which provided an update on the situation relating to a project that received a LEP loan in 2013.
It was noted that their meeting on 4 January 2017, the Committee had recommended the approval of £200k grant funding, on an exceptional basis, to a project already in receipt of a LEP loan. Members were provided with an update on the progress of the project which currently continues to operate and deliver benefits and outputs. It was reported that the risks related to the situation are being carefully monitored.
(i) That it be noted the project is considered to be a high risk.
(ii) That the next steps, as detailed in the exempt appendix, be supported.
(iii) That it be recommended to WYCA that any future decisions with financial implications be progressed through delegation to the Managing Director in consultation with the Chairs of the Investment Committee and Investment Panel.
The Committee considered a report on the draft SUD Call.
Members considered the full Call which had been produced in draft form and covering note which were attached as exempt appendices to the submitted report. It was recommended that the draft Call be recommended for approval by WYCA at its meeting to be held on 29 June 2017 prior to formal publication by the DCLG.
Resolved: That the Investment Committee recommends to WYCA the approval of the draft SUD Call.