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  • Decision details

    OUTLINE BUSINESS CASE FOR PARC BRYN CEGIN, BANGOR

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    Decision status: For Determination

    Is Allweddol decision?: No

    Is subject to call in?: No

    Decision:

    1.    To approve the Outline Business Case for the Parc Bryn Cegin project, subject to Welsh and UK Governments' approval of the assurance process, and Ambition North Wales addressing the matters set out in the report, as described in Section 7, and recommend to the NWEAB that a Full Business Case is prepared for the Board to consider.

    2.    To accept that the approval of the Outline Business Case will act as approval for the project change request to reduce the project scope for Phase 1 from 3,000 square metres to 1,856 square metres of proposed new employment units.

    3.    To agree the revised process which will see a Full Business Case presented upon the completion of the Joint Venture Agreement and confirmation of Welsh Government funding prior to commencing procurement.

    4.    To agree the principles of the Joint Venture proposal as set out and delegate to the Portfolio Director in consultation with the Chair, Vice-Chair, Section 151 Officer and Monitoring Officer to approve and enter into the agreement.

    5.    To note the forecast return as part of the Joint Venture Agreement and approve in principle (subject to confirmation at Full Business Case) that the income received is allocated to a reserve to be used to fund the Portfolio Management Office in future years.

    6.    To hold further discussions on Phase 2 of the Project following the completion of Phase 1.

     

    Publication date: 06/12/2024

    Date of decision: 06/12/2024

    Decided at meeting: 06/12/2024 - North Wales Economic Ambition Board

     

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