Issue - meetings

Hedd Vaughan-Evans to present the report.

DECISION

1.    To note the Quarter 1 Performance Report and updated Portfolio Risk Register.

2.    To approve the submission of the Quarter 1 Performance Report to the Welsh Government and UK Government, as well as the local authority scrutiny committees.

The report was presented by Hedd Vaughan-Evans, Head of Operations.

RESOLVED

1.     To note the Quarter 1 Performance Report and updated Portfolio Risk Register.

2.     To approve the submission of the Quarter 1 Performance Report to the Welsh Government and UK Government, as well as the local authority scrutiny committees.

REASONS FOR THE DECISION

Quarterly reporting on progress against the North Wales Growth Deal is one of the requirements of the Final Growth Deal Agreement.

DISCUSSION

The quarter 1 performance report was presented, covering the period between April and June of this year. It was noted that several important milestones had been reached during the period, including the transfer of the Growth Deal work to the CJC. It was reported that a review of the portfolio had been undertaken, with key decisions made on individual projects, and that a new reserves list, as well as the approval and assurance arrangements, had been streamlined and successfully implemented.

Reference was made to the approval of two full business cases during the quarter, namely 4G+ and the Smart Local Energy project. In addition, it was noted that the loan agreement for the Cydnerth project had been completed, the business case for Theatr Clwyd had been approved, and that the main building at Plas Coch, as part of the EEOC project, had been completed with a soft launch, whilst the laboratory facilities at Plas Henfaes had been fully refurbished.

Members were reminded that four projects continued to report a red status currently, and it was noted that they would be part of the second round of the next portfolio review, with proposals and recommendations to be resubmitted to the Board in November. It was noted that many business cases were on this meeting's agenda and that approving them would put the Board in a more positive position in terms of performance.

In terms of benefits, it was noted that the number of jobs created by the end of quarter 1 stood at 38. It was accepted that this figure was not currently significant, but that this reflected the number of projects in the current delivery stage. A significant increase was expected in the coming years as more projects moved to the delivery stage. It was noted that work was underway with the other growth schemes to standardise the process of gathering data on construction posts and ring-fenced posts, in order to be able to provide a more comprehensive picture to the Board and the Government of the impact of the projects.

It was noted that the investment of the Growth Deal by the end of quarter 1 stood slightly over £22.6 million, with the total investment over £24 million. It was further noted that the report also included information about the wider benefits that were emerging, such as additional income secured, students completing qualifications and steps to strengthen supply chains. It was noted that this element would be further developed in future reports as more projects moved to the delivery stage and more data  ...  view the full minutes text for item 6