New Anglia Investment Appraisal Committee
Meeting Minutes (Unconfirmed)
20th May 2020
Present:
Committee Members
Alan Waters (AW)
Norwich City Council
Sandy Ruddock (SR)
Scarlett and Mustard
David Ellesmere (DE)
Ipswich Borough Council
Andrew Proctor (AP)
Norfolk County Council
Dominic Keen (DK)
High Growth Robotics
Tim Whitley (TW)
BT
Martin Williams (MW)
Independent IAC Member
In Attendance
Rosanne Wijnberg (RW)
New Anglia LEP
Chris Dashper (CD)
New Anglia LEP
Helen Wilton (HW)
New Anglia LEP
Mike Dowdell (MD)
New Anglia LEP
ACTIONS
None
1
Welcome from the Chair
David Ellesmere welcomed everyone to the meeting.
2
Governance
Chris Dashper (CD) presented the Governance paper including the revised Terms of Reference (ToR).
Andrew Proctor (AP) suggested amending the ToR to put more emphasis ensuring that the applications
approved by the IAC assisted with the rebuild of the economy. It was agreed that the ToR would be
amended to ensure the IAC was aligned with the Restart and Rebuild strategy of the LEP.
RW presented the nominations of David Ellesmere as Chair and Dominic Keen as Vice-Chair. These
were approved by the meeting.
It was noted that a request for a new private sector board member would be made to the LEP Board at
the May meeting.
The committee agreed
• To approve the Terms of Reference subject to the agreed amendment
• To approve the appointment David Ellesmere as Chair and Dominic Keen as Vice-Chair
3
Apologies
None.
4
Declarations of Interest
None
5
Minutes of previous meeting (25th March 2020)
The minutes of the previous meeting were approved by the committee.
6
Growing Places Fund Horizon Paper (Confidential)
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Iain Dunnett (ID) highlighted key points from the Horizon paper.
ID noted that progress on capital projects had slowed by 1-2 months. Some projects had completed
much of their work prior to lockdown while others had been heavily impacted. ID is monitoring progress
and advised that the drawdown of funding will be delayed in many cases.
ID is in touch with applicants to discuss options including considering new funding schemes if more
suitable.
The Committee agreed:
• To note the content of the report
7
Growing Places Fund Programme Performance Report and RAG Rating
The monthly GPF report and accompanying appendices were reviewed by the Committee.
The Committee agreed:
• To note the content of the report
8
Growing Business Fund Programme Performance Report and appendices
The Growing Business Fund Performance Report was presented to the meeting.
CD confirmed applications are continuing and the panel met last week to approve £500,000 worth of
payments with potentially £300,000 worth of grants to be discussed in June.
The focus of the GBF is being reviewed to ensure it reflects the future requirements of the economy.
CD provided an update on the Reliance and Recovery Fund and advised that 3 projects had been
approved to date. Overall the scheme has been well received and 30 further projects are in various
stages of the process.
A PPR report will be included from June.
The Committee agreed:
• To note the content of the report
9.
Innovative Projects Fund Programme Performance Report
CD provided an update on the projects which have been awarded funding to date noting that projects had
received their offer letters and some had started to draw down funds.
Many projects be delayed in the current crisis but those cultural projects reliant on the visitor economy
may be more heavily impacted. The LEP will work with the projects to understand timescale for any
delays to understand what can be delivered in the future.
Projects are being closely monitored and the IAC will be kept informed of any changes.
The Committee agreed:
• To note the content of the report
10
Growing Places Fund: Covid-19 Loan Repayment Adjustments
ID reviewed the paper detailing a potential request for adjusting the loan repayments on the Winerack.
ID advised that the situation is changing rapidly but that 2 more units had been sold last week allowing
another repayment to the LEP.
A potential extension to the loan period of 3 months is being discussed and is dependent on sales in the
building.
The IAC will be kept informed.
MW noted that 3 months may not be sufficient in the current climate and a longer extension could be
required.
The meeting discussed the impacts of the crisis on the property market.
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