Agenda item

As detailed in the recommendations.

Councillor Butler introduced the report and explained that the North Wales Growth Deal was a portfolio consisting of 5 programmes to be delivered over the next 15 years.  It was to be delivered by the Portfolio Management Office on behalf of the North Wales Economic Ambition Board (NWEAB).

The Chief Executive explained that the Growth Deal was seeking to deliver a total investment of up to £1.1bn in the North Wales economy (£240M from the Growth Deal), to create 3,400 – 4,200 net additional jobs and generate £2.0 - £2.4bn in net additional GVA. 

The five programmes included 14 projects, which had been carefully designed and developed with stakeholders to address specific market failures and barriers to economic growth.  Individual project business cases would be developed and would be presented to the NWEAB for approval from January 2021 onwards.

The report had been considered at Environment and Economy Overview and Scrutiny Committee the previous week where they considered the economic impacts, and Corporate Resources Overview and Scrutiny Committee also the previous week had considered the aspects of governance and finance.   Following Cabinet on the report would be considered by County Council that afternoon.  Both Overview and Scrutiny Committees supported the report.

            The Chief Officer (Governance) explained the areas which were functions of Cabinet and which needed approval by County Council. 

In response to a question from Councillor Bithell, the Chief Executive explained that a proportion of NNDR could be retained of new developments of up to 50%. 

Members welcomed and supported the report.

RESOLVED:

(a)       That Cabinet and Council approve the Overarching Business Plan as the document that sets out the arrangements to deliver the North Wales Growth Deal as the basis for entering into the Final Deal Agreement and acceptance of the Grant Funding Letter with the UK and Welsh Governments;

(b)       That Cabinet approves the provisions in Governance Agreement 2 relating to executive functions, and recommends that Council approves the provisions relating to non-executive functions, and that Cabinet specifically adopts the delegations and Terms of Reference in “Governance Agreement 2: Appendix 1” thereof as the basis for completing the Final Deal Agreement and acceptance of the Grant Funding Letter with the UK and Welsh Governments;

(c)        That Cabinet formally endorse and recommend that the Council authorise the accountable body, Gwynedd Council, to sign the Grant Funding Offer letter on behalf of the Partners;

(d)       That Cabinet formally endorses and recommends that Council approves the method used to calculate the cost of borrowing notionally required to facilitate the negative cash flow for the Growth Deal, and to include a provision within the Council’s budget to pay this contribution and the established core and supplementary contributions as set out in GA2 and paragraphs 2.5-2.7 of the report; and

(e)       That the Chief Executive in consultation with the Leader, Monitoring Officer and Section 151 Officer be granted delegated authority to agree minor changes to the documents with the Partners as necessary to complete the agreement.