Issue - meetings

David Mathews (Land and Property Programme Manager) and Margaret Peters (Land and Property Project Manager) to present the report.

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.

The report was submitted by the Land and Property Programme Manager and the Land and Property Project Manager.

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.

REASONS FOR THE DECISION

To seek the Portfolio Board’s approval of the Outline Business Case for the Parc Bryn Cegin project, and the subsequent project change request.

The Board should note that no grant funding agreement would be required for this Project, as the Joint Venture Agreement would act as a legal contract between Ambition North Wales and Welsh Government. No approval was requested at this stage, but this would be when the Full Business Case would be presented to the Board in due course.

DISCUSSION

The report was discussed.