New Anglia Investment Appraisal Committee
CONFIDENTIAL
Meeting Minutes (Confirmed)
23rd July 2019
Present:
Committee Members
Lindsey Rix (LR)
Aviva
Martin Williams (MW)
Santander
Alan Waters (AW)
Norwich City Council
David Ellesmere (DE)
Ipswich Borough Council
Tim Whitley (TW)
BT
Sandy Ruddock (SR)
Scarlett and Mustard
In Attendance
Rosanne Wijnberg (RW)
New Anglia LEP
Chris Dashper (CD)
New Anglia LEP
Iain Dunnett (ID)
New Anglia LEP
Apologies
Dominic Keen (DK)
High Growth Robotics
Andrew Proctor
Norfolk County Council
ACTIONS
• Review of Innovation Fund draft terms of reference.
• Chris Dashper (CD) to engage with loan recipient and report back to next committee meeting.
• Chris Dashper (CD) to liaise with large company on conditions of investment.
• Iain Dunnett (ID) to liaise with grant applicant on provision of further financial information required
by the committee.
• Iain Dunnett (ID) to continue liaising with future grant applicant on provision of financial
information.
1
Welcome from the Chair
Lindsey Rix as Chair welcomed everyone to the meeting.
2
Apologies
Dominic Keen and Andrew Proctor
3
Declarations of Interest
None
4
Minutes of previous meeting (25 June 2019)
The minutes of the previous meeting were approved by the committee.
5
Growing Places Fund Horizon Paper (Confidential)
Iain Dunnett (ID) reviewed the GPF Horizon Paper and stated no points for discussion.
6
Growing Business Fund Programme Performance Report (Confidential)
6.1
Growing Business Fund Approvals
6.2
Small Grants Scheme Approvals
Page 1 of 2
The monthly GBF report and accompanying appendices were reviewed by Chris Dashper (CD) and
stated no points for discussion.
7
Innovative Projects Fund Revised Arrangements
Alan Waters (AW) stated that the proposal for inclusion of Pooled Business Rate contributions into the
fund were still to be agreed by Suffolk and Norfolk Leaders Groups. Alan Waters (AW) and David
Ellesmere (DE) both expressed need for clear expression of; local authority areas in an inclusive manner
with a clear allocation of £500k each to Norfolk and Suffolk; the LEP £500k being allocated where most
appropriate; a balanced allocation between rural and urban needs; that a draft terms of reference
required for comment; discussion on sign off between local authorities and LEP and agreement that
Investment Committee representation will be the local authority members on the funds panel; Investment
Committee step in needs to be possible re allocation of LEP funds.
Sandy Ruddock (SR) questioned the need for a £60k management fee.
The IAC agreed to review a draft term of reference at their next meeting in September.
8
Loan Update (Confidential)
The IAC agreed to review the project at the next meeting of the IAC. LEP Executive to continue to provide
updates on a regular basis.
9
Growing Places Fund Large Company Grant Request (Confidential)
The committee agreed a grant of £379,318, subject to approval of the capital grant programme by the
board, provision of a suitable State Aid statement by the applicant and evidence of confirmation by the
parent company that the applicant would continue to be located in the region.
10
GPF Grant Application (Confidential)
The committee agreed to review the project again at the next meeting.
11
Any Other Business
Lindsey Rix (LR) asked when other grant applications would be presented to committee. Iain Dunnett (ID)
explained that the figures were being prepared and would be presented to the committee in September.
Date and time of next IAC meeting:
Teleconference, Tuesday 10 September 2019, commencing 08:30
Dial: 033 3443 3443
Room Number: 83889320 #
PIN: 3227 #
Page 2 of 2
