Decision details

North Wales Economic Ambition Board - Final Growth Deal

Decision Maker: Corporate Resources Overview & Scrutiny Committee

Decision status: Recommendations Approved

Is Key decision?: No

Is subject to call in?: No

Purpose:

To consider Governance Agreement 2 and Final Deal Agreement for the North Wales Economic Ambitions Board prior to approval by Cabinet.

Decision:

(a)       That the Committee formally endorses and recommends that the 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 the Committee formally endorses and recommends that the Cabinet approves the provisions in Governance Agreement 2 relating to executive functions, 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 the Committee supports the recommendation that the Cabinet formally endorses and recommends that the Council authorises the accountable body, Gwynedd Council, to sign the Grant Funding Offer letter on behalf of the Partners;

 

(d)       That the Committee supports the Cabinet formally endorsing and recommending 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 in paragraphs 2.5 - 2.7); and

 

(e)       That the Committee supports 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.

Report author: Kara Bennett

Publication date: 17/11/2020

Date of decision: 12/11/2020

Decided at meeting: 12/11/2020 - Corporate Resources Overview & Scrutiny Committee

Accompanying Documents: