Issue - meetings
A Growth Deal for the Economy of North Wales: Proposition Document
Meeting: 23/10/2018 - Cabinet (Item 242)
As detailed in the recommendations.
The Chief Executive introduced the Growth Deal Bid for the Economy of North Wales: Proposition Document report which followed the Vision that was adopted by Cabinet in September 2016.
The target date for entering into a Heads of Terms Agreement for a Growth Deal with both governments was set as autumn/winter 2018. A Proposition Document, which set out the priority programmes of activity for the region and for which national funding was being sought through the Growth Deal, had been approved by the North Wales Economic Ambition Board. The Growth Deal would fund selected programmes and projects from within the Proposition Document. The document constituted the regional bid which would lead to a deal.
During October the regional partners were being invited to endorse the Proposition Document to give a mandate to their respective Leader to enter into a Heads of Terms Agreement with both Governments. Post Heads of Terms, the region would then enter the final stage of Bid development and negotiation with Governments.
Councillor Shotton welcomed the report and provided details of all of the regional work that had been undertaken. He added that in endorsing the recommendations for submission to Council for approval later that day, the Council would not be making any commitment to financial investment of its own, and would only be authorising the submission of a formal Bid for consideration by Governments. The final risks and benefits of a final Growth Deal would be reported at the second and final approval stage, along with the model for sharing any borrowing costs amongst regional partners.
He emphasised the importance of the priority programmes, such as strategic transport and digital connectivity. Councillor Butler concurred and commented on the benefits for businesses of all sizes in the region.
Councillor Attridge also welcomed the report which saw exciting times ahead for Flintshire and the region, and he expressed particular thanks to Councillor Shotton and the Chief Executive for the amount of work they had both contributed to the programme to date.
(a) That the Proposition Document be endorsed for recommendation to Council for adoption as (1) the basis of a longer-term regional strategy for economic growth and (2) the regional bid for the priority programmes and projects from which the content of a Growth Deal will be drawn at the Heads of Terms Agreement stage with Governments. Adoption does not commit the Council to any financial investment of its own at this stage and is subject to the financial risks and benefits of the final Growth Deal being set out in detail, for full consideration, when the final Deal is presented for approval at a later date; and
(b) That the Leader be authorised to commit the Council to entering Heads of Terms with Governments alongside the political and professional leaders from the nine other statutory partners represented on the North Wales Economic Ambition Board, and the North Wales Mersey Dee Business Council with the Proposition Document setting out the parameters for the Heads of ... view the full minutes text for item 242