The Strategic Director Place will submit a report (Document “AL”) which provides an update to the Executive in relation to the Towns Fund; setting progress to date and key milestones. 

Recommended –

Executive is recommended to:

(1)    Acknowledge the work and thank the Town Deal Boards for their            ongoing commitment and progress to date;

(2)    Delegate authority to the Director of Finance & IT, as the S151     Officer in consultation with the Strategic Director of Place, the City             Solicitor and the Leader, to approve and submit the business cases         to Government, the Department for Levelling Up, Housing and Communities (DLUHC) - formerly known as MHCLG, the Ministry of       Housing, Communities and Local Government;

(3)    Delegate authority to the Director of Finance & IT in consultation            with the Strategic Director of Place to authorise expenditure from            the advance payment of 5% capital funds for business case and    project development and agree to passport some of this funding via      grant agreements to third party organisations to help develop those          projects where appropriate or necessary;

(4)    Endorse the assurance process for agreeing/authorising business         cases for individual projects as set out in this report;

(5)    Delegate authority to the Director of Finance & IT in consultation            with the Strategic Director of Place, the City Solicitor and the        Leader to approve business cases for individual projects; and

(6)    Delegate authority to the Director of Finance & IT in consultation            with the City Solicitor to agree and complete the funding agreements with organisations that will deliver Town Deal projects           for the Towns Fund programme.

Overview & Scrutiny Area: Regeneration and Environment

(Lorraine Wright 07970 730328)

The Strategic Director Place submitted a report (Document “AL”) which provided an update to the Executive in relation to the Towns Fund; setting progress to date and key milestones. 

It was stated that In June 2021, Shipley received an investment offer of £25m and Keighley received an investment offer of £33.6m; these were the two highest investment offers in West Yorkshire and at £33.6m, Keighley represents the fifth highest Town Deal investment offer nationally. Investments over £25m are limited to the most ambitious Town Investment Plans that promise to deliver transformational impacts for not only towns but also wider region and/or the country.  In respect of Keighley, the Town demonstrated the regional significance of manufacturing and engineering sector to achieve an investment offer that exceeds £25m.

Shipley and Keighley were now in the process of developing detailed business cases for each project; all business cases will have to be completed and submitted to Government by the end of June 2022.

On 11 November 2021, the Council received the Grant Offer Letters for Shipley and Keighley. This was an important milestone as it will enable the Government to release 5% of the investment offer to the Council, as the Accountable Body (£1.25m for Shipley and £1.68m for Keighley. This was effectively an early advance of the capital investment to enable project development and drafting of the business cases. No other capital funds will be received until the respective business cases are approved by Government.

The Chair of the Keighley Town Board was present at the meeting and stated that he was excited at the potential the Fund would have on the area and he was positive that some good projects would be delivered. He however expressed some concerns around the performance of the consultants that had been engaged and that these concerns were also echoed by his counterpart in Shipley. 

The Leader in welcoming the funding , echoed that the any concerns would be performance managed accordingly.

Two projects in the Keighley area were highlighted as already having made a significant contribution to the cultural offer, and that the Fund would enable further development of these and other similar projects.

The Leader stressed the value culture offered to the district as a whole and the enthusiasm and contribution of the projects were welcomed.

The main opposition group leader stated that it was important that engagement is improved as were progressed with the Towns Fund.

In response the Portfolio Holder stated that some of the issues raised were linked with the way the Towns Fund  was structured and we had little say in how that could be altered, however there was a real impetus to ensure the process and delivery were effective.

Businesses were also being supported to ensure that they applied for funding that demonstrated increased productivity as well as evidence of job creation.

Resolved –

(1)       That the work be acknowledged and the Town Deal Boards be thanked for their ongoing commitment and progress to date;

(2)       That authority be delegated to the Director of Finance & IT, as the       S151 Officer in consultation with the Strategic Director of    Place, the City Solicitor and the Leader, to approve and submit          the business cases to Government, the Department for Levelling             Up, Housing and Communities (DLUHC) - formerly known as     MHCLG, the Ministry of Housing, Communities and Local         Government;

(3)       That authority be delegated to the Director of Finance & IT in     consultation with the Strategic Director of Place to authorise          expenditure from the advance payment of 5% capital funds for     business case and project development and agree to passport             some of this funding via grant agreements to third party organisations to help develop those projects where        appropriate or necessary;

(4)       That the assurance process for agreeing/authorising business

            cases for individual projects be endorsed as set out in Document “AL”.

(5)       That authority be delegated to the Director of Finance & IT in     consultation with the Strategic Director of Place, the City     Solicitor and the Leader to approve business cases for             individual projects; and

(6)       That authority be delegated to the Director of Finance & IT in     consultation with the City Solicitor to agree and complete the        funding agreements with organisations that will deliver Town           Deal projects for the Towns Fund programme.

Overview & Scrutiny Area: Regeneration and Environment