Agenda item

Celtic Freeport - Outline Business Case

Minutes:

Decisions:

 

That having had due regard to the Integrated Impact Assessment:

 

1.           Delegated authority be granted to the Chief Executive (in consultation with the Leader and relevant Cabinet Member) to agree any variations that may be required to the Outline Business Case (OBC) set out at Appendix 2 to the Private, circulated report, and to approve its submission to the UK and Welsh Governments;

 

2.           Subject to confirmation from UK and Welsh Government that there will be appropriate retention of Non-Domestic Rates, delegated authority be granted for the Chief Executive (in consultation with the Leader and Relevant Cabinet Member) to agree final amendments to the Outline Business Case following feedback by the two governments to enable the two governments to confirm acceptance of the OBC;

 

3.           Delegated authority be granted to the Chief Executive and Head of Legal and Democratic Services to sign Letters of Intent in respect of Tax Site Delivery Agreements on behalf of the Celtic Freeport;

 

4.           Delegated authority be granted to the Chief Executive to enter into a new Memorandum of Understanding or any ancillary agreements necessary to continue with the programme of next steps identified in the Private, circulated report, noting that further reports will be brought back to Members on the points referenced herein.

 

Reason for Decisions:

 

Freeport status will act as a catalyst for significant economic growth within the locality and the wider region linked to the emerging off-shore wind sector and wider renewables agenda. Celtic Freeport will also support work to decarbonise industry, housing and transport at local regional and national levels helping to meet the net zero carbon targets. Green economic growth will help to address structural issues of poverty and deprivation in the local and regional economy stimulating the local supply chain and increasing the skills and qualifications of the resident population.

 

Implementation of Decision:

 

The decisions are for immediate implementation, following the agreement of the Cabinet Scrutiny Chair.

 

Consultation:

 

The Freeport bid has been developed by the two local authorities, ABP and MHPA, working in partnership. Wider consultation has also taken place with a wide range of public and private sector organisations including business networks within the Freeport proposed area.