Issue - meetings

David Mathews to present the report.

DECISION

1.    To approve the Business Justification Case (BJC+) for the Freeport Gateway project, subject to Welsh Government and UK Government approval of the assurance process undertaken.

2.    To delegate to the Portfolio Director in consultation with the Chair, Vice-chair, Section 151 Officer and Monitoring Officer to confirm the final costs and benefits post procurement are in line with the approved business case and enter into a funding agreement with Isle of Anglesey County Council (IoACC) for the delivery of the project, subject to Isle of Anglesey County Council addressing the outstanding issues set out in section 7 of the report and securing all necessary internal approvals for the project.   

3.    That the approval from the Sub-committee is valid for a period of six months and should the project not proceed to a signed funding agreement during this time, it will be required to return and re-present the business case to the Sub-committee for approval.

The report was presented by David Matthews, Land and Property Programme Manager.

RESOLVED

1.     To approve the Business Justification Case (BJC+) for the Freeport Gateway project, subject to Welsh Government and UK Government approval of the assurance process undertaken.

2.     To delegate to the Portfolio Director in consultation with the Chair, Vice-chair, Section 151 Officer and Monitoring Officer to confirm the final costs and benefits post procurement were in line with the approved business case and enter into a funding agreement with Isle of Anglesey County Council (IoACC) for the delivery of the project, subject to Isle of Anglesey County Council addressing the outstanding issues set out in section 7 of the report and securing all necessary internal approvals for the project.   

3.     That the approval from the Sub-committee is valid for a period of six months and should the project not proceed to a signed funding agreement during this time, it will be required to return and re-present the business case to the Sub-committee for approval.

REASONS FOR THE DECISION

To seek the Sub-Committee’s approval of the BJC+ for the Freeport Gateway project.

The draft BJC+ is being presented to the Sub-Committee in October in order for IoACC to complete the purchase of the freehold interest of the site from Eastman. As the site has substantial liabilities, IoACC wish to have certainty that they will have sufficient funding to address the demolition, remediation and other site clearance works as well as providing for an adoptable highway for accessing the site. As part of the wider Freeport Gateway project, IoACC wish to construct additional employment units on the adjacent Tregarnedd Industrial Park and to bring forward a development plot for sale on the open market.

DISCUSSION

The Report was discussed.