New Anglia Investment Appraisal Committee
Meeting Minutes (Unconfirmed)
17th January 2018
Present:
Cllr David Ellesmere (DE)
Ipswich Borough Council
Doug Field (DF)
East of England Coop
Lindsey Rix (LR)
Aviva
Tim Whitley (TW)
BT
Chris Dashper (CD)
New Anglia LEP
Iain Dunnett (ID)
New Anglia LEP
Tracie Ashford (TA)
New Anglia LEP
Actions from meeting
CD
• CD to circulate new Terms of Reference before next meeting
1
Welcome from the Chairman
Doug Field (DF) welcomed everyone to the meeting and was deputy Chair until Lindsey Rix (LR) arrived
2
Apologies
None
3
Declarations of Interest
Full declarations of interest can be found at http://www.newanglia.co.uk/about-us/the-board/ .
Declarations relevant to this meeting:
Item 5: Cllr David Ellesmere(DE) left the room whilst this was discussed
4
Minutes of the last meeting
None
5
Ipswich Malthouse - Confidential
The committee agreed
• To note the content of the application
• For LR to present the committee recommendation at the LEP board meeting on the
17th January 2018 to offer a loan of £600,000 to the current owner
6
Capital Growth Programme
Chris Dashper (CD) gave a brief overview of the paper and explained the process that had
been followed for the £9m call for projects.
Deferred Projects
CD reviewed the list of deferred projects detailing the rationale behind the decisions.
Rejected Projects
CD reviewed the list of rejected projects detailing the rationale behind the decisions.
LR asked how the amount of funding required was being managed and CD explained that
projects that have been deferred would move to future calls.
LR suggested it would be good for the committee to see all pipeline projects and what
funding is left to be able to make informed decisions.
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DF was keen to ensure decisions were made based on criteria (consistent with the
Economic Strategy) and not because the project may have been mentioned in the Economic
Strategy.
Approved projects
Bacton to Walcott Coastal Management Scheme
Tim Whitley (TW) was supportive of the project however asked why the LEP funding was
such a small amount in comparison to the size of the project. CD explained that local LEP
funding is often key to other funding sources being involved and it is important for our
funding to visible as a measure of support.
DF asked how the LEP would be protected against over runs and CD explained this is a
condition in offer letters and the reason why some projects have not been taken forward in
this call for projects.
CEFAS Research Centre
TW asked what the growth detailed within the paper related to. Iain Dunnett (ID) explained it
was in relation to economic growth and the next phase should bring more jobs and CEFAS
were in talks with East Suffolk Council about support for the next phase.
The committee agreed
• To note the content of the paper
• For LR to present the committee recommendation at the LEP board meeting on the
17th January 2018 for the deferred projects to be deferred for future calls
• For LR to present the committee recommendation at the LEP board meeting on the
17th January 2018 for the rejected projects to be rejected
• For LR to present the committee recommendation at the LEP board meeting on the
17th January 2018 for the Bacton to Walcott Coastal Management Scheme to be
approved
• For LR to present the committee recommendation at the LEP board meeting on the
17th January 2018 for the CEFAS Research Centre to be approved
7
Terms of reference
CD introduced Tracie Ashford (TA) as minute taker and advised she would continue to do
this going forward. CD explained that new terms of reference were being drawn up.
The Investment Committee would be moving to include more members and new terms of
reference will be circulated before the next meeting.
DF suggested there should be a criteria for the committee to be able to make funding
decisions up £500,000. If any project presented to the committee that was outside of scope
but was a viable project this would need to be presented to the board.
The committee agreed
• CD would circulate new terms of reference before the next meeting
8
AOB
• None
Next meeting:
Wednesday 21st February 2018, 9am-9.45am.
Marble Hall, 8 Surrey Street, NR1 3NG
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