Minutes:
(Not for publication – exempt information as defined in paragraph 41 (Information provided in confidence relating to contracts) of the Freedom of Information Act 2000. It is considered that in all the circumstances of the case the public interest in maintaining the exemption outweighs the public interest in disclosing the information).
Michele Lawty-Jones reported that the three fast track applications considered at the previous meeting had been approved by the LEP Board and would now be taken forward by the Growth Deal Programme Office.
A further six projects (requesting total grant funding of £4,428,308) had submitted full business cases which had been the subject of a robust appraisal process involving both the Skills Funding Agency and an independent appraiser. An additional project had been withdrawn by the applicant. Updated information in relation to the six applications, including the recommendations of the SFA and independent appraiser, was circulated to the members of the Committee at the meeting.
In considering the information presented the Committee was aware of the potential implications of the Area Based Review (for College applicants) in relation to funding being allocated to a specific institution for a particular project when in the future that institution may be affected by the outcomes of the ABR. As a result it was suggested that consideration be given to including within Grant Funding Agreements measures to minimise the impact of the ABR by targeting the investment or for funding to be clawed back in the event that the planned project did not proceed.
Resolved:
1. That the following applications for Growth Deal Skills Capital, as set out in the report presented, are recommended for approval.
· Application 1 for £125,000, subject to the receipt of letters of support from employers.
· Application 2 for £166,500, subject to the receipt of letters of support from employers.
· Application 3 for £524,808.
· Application 5 for £750,000, subject to legal concerns identified by the SFA being resolved and clarity on funding issues being identified in connection with other phases of development on the site.
· Application 6 for £367,000.
2. That consideration of Application 4 for £2,500,000 be deferred until further information is received from the SFA and the independent appraiser. Information to be provided to non-conflicted members on Tuesday 29th March 2016 with view to a written resolution which will enable a recommendation to the LEP Board.
3. That, where appropriate, consideration be given to including within the Grant Funding Agreements associated with the projects specified at 1 above measures to minimise the impact of the Area Based Review by targeting the investment or provision for funding to be clawed back in the event that the planned project does not proceed.
4. That with regard to Application 1, as specified at 1 above, the institution concerned be requested to write to employers who have been asked to provide letters of support regarding the project to inform them of the potential implications of the Area Based Review, the potential for changes in ownership and the proposed actions to be taken in relation to the Grant Funding Agreement to minimise the impact.
5. That the recommendations set out above are referred to the LEP Board on the 5th April, 2016, for consideration and determination.