Venue: Via Microsoft Teams
Contact: Chloe Plowman Email: c.plowman@npt.gov.uk
No. | Item |
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Welcome and Introductions Minutes: The
Monitoring Officer for the Celtic Freeport Public Funds Committee welcomed everyone
to the meeting. |
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Appointment of Chairperson Minutes: RESOLVED: That
Cllr Jon Harvey (Pembrokeshire County Council) be appointed Chair of the Celtic
Freeport Public Funds Committee. |
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Appointment of Vice Chairperson Minutes: RESOLVED: That
Cllr Steve Hunt (Neath Port Talbot Council) be appointed Vice Chair of the
Celtic Freeport Public Funds Committee. |
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Declaration of Interests Minutes: There
were no declarations of interests received. |
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Additional documents: Minutes: Members were presented with the Terms of Reference
for the Celtic Freeport Public Funds Committee. It was explained that a key
principle of the Freeport programme was that decisions will be made via a
process and structure that preserves both the public-private 'dual key'
approach, ensuring democratic accountability for the expenditure of public
funds; to enable that democratic process to take place it was decided that a
Public Funds Committee would be created. Officers confirmed that
the role of the Joint Committee will be to ensure proper democratic
accountability for the allocation of public funds, including ensuring
compliance with the legislative requirements and value for money; the Joint
Committee will be able to either approve or reject proposals from the Celtic
Freeport Company. Reference was made to
the functions that the Joint Committee will have, which includes considering
and reviewing project business cases seeking financial support from public
funding as recommended to the Joint Committee by the Celtic Freeport Board.
Another key function highlighted was the ability to approve project business
cases eligible to receive funding from public funding; the Joint Committee will
have absolute discretion on whether to approve or reject any project business
cases recommended by the Celtic Freeport Board for financial support from
public funding. In addition, the Joint Committee will oversee the general day
to day management of those public funds, with Neath Port Talbot Council acting
as the accountable body to UK Government in respect of them. It was stated that the
Joint Committee will comprise of six Members in total, three from each Local
Authority; with the ability to appoint a deputy Cabinet Member as a substitute,
if one Member cannot attend. It was important to note that the quorum for the
meeting was three Members from each Local Authority. The Committee was
informed that each Member of the Joint Committee will have one vote. It was
explained that in the event that votes on any matter being considered by the
Joint Committee were tied (Deadlock), the relevant matter giving rise to the
Deadlock will be rescheduled as an item agenda to be reconsidered by the Joint
Committee at the next available meeting; the Chair does not have a casting
vote. It was asked if there
was a process in place if the Members did not reach an agreement, following the
matter being re-considered at the next meeting. Officers highlighted that there
were dispute resolution clauses within the agreement where there will be the
opportunity for some independent arbitration. RESOLVED: That
the terms of reference for the Celtic Freeport Public Funds Committee be noted.
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Celtic Freeport - Seed Capital Proposals PDF 245 KB Minutes: Officers presented a
report which was seeking approval for the list of seed capital proposals to be
included in the Full Business Case for the Celtic Freeport. The Chief Executive of Pembrokeshire
County Council provided an overview of the background regarding the Freeport
endeavour thus far, and the next steps in moving forward with the Outline
Business Case and Full Business Case. It was explained that
the Outline Business Case had previously been endorsed by the two Local
Authorities and submitted to UK Government; Officers had expected to receive
feedback and a decision to approve the Outline Business Case by now, however
the snap General Election held in July 2024 had disrupted the timetable.
Members were informed that this process was still yet to be completed. In regard to the Full
Business Case, UK Government had recently asked for the submission of this to
be accelerated to early October 2024; this was to try to ensure that this
process was completed by the end of October 2024. It was noted that Members of
both Local Authorities will receive the draft Full Business Case over the
coming weeks for review and decision before final submission to UK Government. The Committee was
informed that within the Full Business case, was the requirement to submit
proposals for the investment of the seed capital funding from UK Government.
The circulated report set out the proposed use of seed capital for the
consideration of the Joint Committee and Officers sought a decision on the list
of projects to be included in the Full Business Case. It was mentioned that
the proposals had been subject to a fairly rigorous process, however the
accelerated timeline had impacted on the level of scrutiny for some specific
projects. Members were informed
that the seed capital element of up to £25million per Freeport, was a
long-established part of the package; with the idea to help propel prime
investments at an early stage in order to help the Freeport deliver on its
objectives. It was highlighted that
the Full Business Case was one stage in the process of allocating seed capital;
if the Full Business Case was approved, there were then individual business
cases required to fill in the details of each of the propositions. Officers
stated that other Freeports had experienced the need to re-visit their
allocation as the detailed business cases in respect of some of the
propositions didn’t deliver; there were many reasons for this, such as business
plans had changed, and/or private match funding hadn’t arrived. A discussion took place in regard to the series of processes that the Freeport had established to progress with allocations; this involved recommendations from an independent panel going to the Freeport Board, before being brought to the Joint Committee. It was noted that this process had to be foreshortened, specifically the scrutiny of the individual propositions by the independent panel; however, recommendations were provided to the Freeport Board, which then shaped the recommendations contained within the circulated report for consideration by ... view the full minutes text for item 6. |
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Urgent Items Any urgent items at the
discretion of the Chairperson pursuant to Section 100BA(6)(b) of the Local
Government Act 1972 (as amended). Minutes: There
were no urgent items received. |