Agenda item

SWANSEA BAY CITY DEAL

Minutes:

The Executive Board considered a report on the formal establishment of the Swansea Bay City Deal (SBCD) Joint Committee and associated funding streams.

 

The Executive Board was reminded that the Council, together with the three local authorities of Swansea, Neath and Port Talbot and Pembrokeshire, had previously agreed to sign a City Deal Agreement (Heads of Terms) worth a total of £1.3b, which had been signed by both the U.K. and Welsh Governments on the 20th March, 2017. Subsequent thereto, the SBCD had been operating in shadow form to maintain momentum and develop the governance arrangements to enable the region to deliver the programme, which included the development of the Joint Agreement to provide the legal framework within which the SBCD would operate.

 

The Executive Board noted that discussions had also been undertaken with the Welsh Government where it had agreed that as part of the arrangements for the City Deal’s operation:-

·        The City Deal local authorities would be able to retain 50% of the additional net yield in the non-domestic rates generated by the 11 projects to be delivered under the deal;

·        The SBCD local authorities would be able to utilise funding flexibilities in respect of the revenue based project expenditure, as detailed within the Joint Agreement.

 

The Executive Board noted that if approved, the report would need to be formally adopted by Council on the 13th June, 2018 and also by the other three SBCD local authorities by the end of July, 2018.

 

Reference was made to the Council’s role as lead authority for the City Deal, and Board Members expressed their appreciation to all of the Council’s Officers for their commitment and dedication in leading the city deal project over the previous two years.

 

UNANIMOUSLY RESOLVED TO RECOMMEND TO COUNCIL THAT:-

 

6.1

The establishment of the Swansea Bay City Deal (SBCD) Joint Committee and associated governance structure be approved;

6.2

The Draft Joint Committee Agreement be endorsed and delegated authority be granted to the Chief Executive, in consultation with the Leader, to make such minor amendments to the Agreement as are required and agreed between the partner authorities and the U.K and Welsh Governments to finalise the Agreement;

6.3

The establishment of the Swansea Bay City Deal Joint Scrutiny Committee be endorsed;

6.4

It endorse the proposal that Carmarthenshire County Council contributes £50k per annum over 5 years to jointly cover operating costs for the Joint Committee, Economic Strategy Board, Programme Board, Joint Scrutiny Committee, Accountable Body and Regional Office functions and approves the principle that further funding is provided equivalent to the 1.5% top slice of the City Deal funding allocation, The agreement of the basis of the provision of this funding to be delegated to the Director of Corporate Services in consultation with the Executive Board Member for Resources;

6.5

The Director of Corporate Services ( Section 151 Officer) be authorised to explore and implement the most appropriate proportionate borrowing to fund regional projects delivered in Council respective areas;

6.6

The Director of Corporate Service be authorised to negotiate with colleague Directors the most appropriate allocation basis for the regional non domestic rate retention in respect of the 11 projects.

 

Supporting documents: