Decision details

¾    To approve the submission of the Portfolio Business Case and the 5 Programme Business Cases to
UK and Welsh Governments for Final Deal Agreement on the North Wales Growth Deal.

¾    To agree that each of the Partners individually approve the Overarching Business Plan that sets out the arrangements for delivering the North Wales Growth Deal as the basis for completing the Final Deal Agreement and acceptance of the Grant Funding Letter with the UK and Welsh Governments.

¾    To agree that each of the Partners individually approve and enter into Governance Agreement 2 and specifically adopt the delegations and Terms of Reference in “Governance Agreement 2: Appendix 1” thereof as the basis for entering into the Final Deal Agreement and acceptance of the Grant Funding letter with the UK and Welsh Governments.

¾    To approve the method used to calculate the cost of borrowing notionally required to facilitate the negative cash flow for the Growth Deal, and the corresponding annual partner contributions required to meet this cost and the established core and supplementary contributions as set out in GA2 (and in paragraphs 5.5 - 5.7 of the report).

¾    To agree that the Programme Director in consultation with the Chair and Vice Chair of the NWEAB, the
Accountable Body Monitoring Officer and the Accountable Body Section 151 Officer be granted delegated authority to agree minor changes to the documents as necessary to complete the agreement.

¾    To approve the renaming of the of Programme Office to the Portfolio Management Office in line with best practice and as a consequence, change the job title of the Programme Director to Portfolio Director.