Issue - meetings

Report by Hedd Vaughan-Evans, Operations Manager.

Comments were made on the paper and it was noted that further work on how commercial and funding models could be applied to programmes and projects will be carried out by the Programme Office, the Executive Support Group and partners' Finance Officers, while noting that a further report on this matter will be presented to the NWEAB in due course.

The report was submitted by Hedd Vaughan-Evans - Operations Manager.

DECISION

Comments were made on the paper and it was noted that further work on how commercial and funding models could be applied to programmes and projects will be carried out by the Programme Office, the Executive Support Group and partners' Finance Officers, while noting that a further report on this matter will be presented to the NWEAB in due course.

REASONS FOR THE DECISION

As part of the development of the programme business cases, the NWEAB needed to develop the funding models for the Programmes and Projects. There was a need to draw attention to the type of potential commercial and funding models and the relevant considerations which also presented an opportunity to recycle funds back in to the Growth Deal for further future investment.

            DISCUSSION

            The report was submitted and the need to proceed with the work on commercial and funding models as part of the package of work that was needed to secure a Final Deal with the Governments, was noted. Three potential models were outlined which were grant, loan or investment or a combination of the three.

During the discussion, the following matters were raised:-

·           It was noted that the ideas about models were flexible and that every project need not work in the same way.

·           It was stated that this would need to be looked at to secure funding to invest in projects, and that a further report would follow.

·           It was stressed that these models were to look at ways of using the funds the Board had and not to look for further investment.