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New Anglia Investment Appraisal Committee
Confidential Meeting Minutes (Unconfirmed)
30th March 2023
Present:
Committee Members
Kathy Atkinson (KA)
Valeo
David Ellesmere (DE)
Ipswich Borough Council
Alan Waters (AW)
Norwich City Council
In Attendance
Graham Plant (GP)
Norfolk County Council
Rosanne Wijnberg (RW)
New Anglia LEP
Iain Dunnett (ID)
New Anglia LEP
Chris Dashper (CD)
New Anglia LEP
Helen Wilton (HW)
New Anglia LEP
Melanie Richardson (MR)
New Anglia LEP
ACTIONS
None
1
Welcome from the Chair
David Ellesmere (DE) welcomed everyone to the meeting and advised that it would not be quorate.
2
Apologies
Apologies were received from Sandy Ruddock, Dominic Keen, Martin Williams and Andrew Proctor.
3
Declarations of Interest
None
4
Minutes of previous meetings
The minutes of the meeting held on 25th January 2023 were agreed as accurate.
5
Horizon Paper and GPF Project Updates – Confidential
ID highlighted the following items from the paper:
The Malthouse – The share purchase has been completed and the new owner intends to consolidate any
outstanding debt including the LEP’s loan and Pertwees remaining finance. His intention is to pay off the
LEP and Pertwee in March within the current deed of variation although this may fall into April. A new deed
and a schedule of repayments will be prepared if repayment does not occur In March.
The Winerack - Homes England have instructed Cushman & Wakefield to undertake an Options Analysis
Report on the building and finance and to make a recommendation to Homes England Credit Committee
for best option. LEPs request for a £500k interest payment remains.
One Farm – A tour occurred in February with the West Suffolk Council leader and LEP Chair and CEO in
attendance with very good levels of PR resulting from the visit. Interest only repayments are due to
commence in October of this year.
Ipswich Flood – The final repayment expected from IBC in March 23.
FEP - Interest only repayments commenced in February with £60k received by SCC The next repayment is
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due in August.
The Committee agreed:
To note the content of the report
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Small Grant Scheme and Growth Through Innovation Grant Approval Reports
CD confirmed that there has been a final push on both programmes resulting in an increase in applications
as the ERDF comes to a close. Both budgets are now fully committed and no clawback will be required.
The Committee agreed:
To note the content of the report
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Confidential: Growing Places Fund Loan Proposal
ID presented the paper outlining the proposed development of the area around the Barton Mills / A11
interchange.
ID noted the project is subject to approval within the West Suffolk Local Plan but the LEP could comment
on the economic benefits of the project which would support business growth and provide employment
opportunities in the A11 Tech Corridor.
The Committee agreed:
To note the content of the report
To recognise that the proposal as it stands would potentially be a development supporting
business growth and employment opportunities and to receive a further proposal in the future.
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Investment Appraisal Committee Governance Arrangements
CD and RW expressed the thanks for the LEP to DE and AW for their time and commitment to the
committee and their contributions during their terms of office.
DE noted the success of the capital projects during his time at the LEP and thanked the LEP team for their
support and hard work which has yielded tangible benefits for the region.
AW thanked DE for his role as chair and noted the excellent work carried out by the IAC and its impact on
the local economy.
GP said that AP had asked him to pass on his thanks to AW and DE for the work on the IAC.
CD noted that a new chair and deputy chair would need to be elected at the May meeting and the ToR
would also be reviewed.
RW advised that, as there was currently uncertainty regarding AP’s attendance at future meetings she was
investigating available options. It was agreed that the position would be clearer in May following local
elections.
The Committee agreed:
To note the content of the report
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AOB
None.
