Venue: South Yorkshire MCA, 11 Broad Street West, Sheffield, S1 2BQ
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Welcome and Apologies Minutes: Neil MacDonald, in the Chair, welcomed attendees to the meeting.
Apologies for absence were noted as above. |
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Declarations of Interest by individual Members in relation to any item of business on the agenda. Minutes: None. |
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Urgent items / Announcements Minutes: None. |
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Public Questions of Key Decisions Minutes: None. |
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Minutes of the Previous Meeting Minutes: RESOLVED: That the minutes of the meeting held on 1st September 2022 be agreed as a true record. |
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Matters Arising / Action Log Minutes: It was noted that the latest South Yorkshire UK Shared Prosperity Fund (UKSPF) Investment Plan had been shared by email with the Board. The MCA was yet to hear back from Government, but external support was being provided to deliver this work. An internal reorganisation of support provision had also been undertaken.
It was confirmed that, once the first year’s allocation had been received from Government, and LA Delivery Plans have been agreed with the LCA as Lead Authority, funds would be passed on to Local Authorities.
The Board requested an update on the establishment of the Innovation Board, including an expected timeline for completion.
ACTION: Innovation Project Director to provide an up-to-date timeline for the establishment of the Innovation Board to the next meeting.
RESOLVED: to note the Action Log and updates, and clear completed actions from the log. |
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Business Development Projects - Status Update Minutes: A Status Update on Business Development Projects was presented to the Board. It stated that there were 67 active enquiries at that time, covering a range of industries.
It was noted that two projects previously undertaking the assurance process had withdrawn. Both were attributed to the poor economic climate at the time.
A discussion was had on a recent hosting of an overseas delegation looking in to investing in technical capabilities in the region. Feedback on the visit had been very good, and several follow up enquiries had been passed on to local partners. Insights gained had also been passed on to the AMRC and Sheffield Universities to enhance engagement in the region.
The Board welcomed ongoing work to create an International Strategy which would provide a framework for future international visits and encouraged the involvement of all Authorities in any international investment. The Board asked for more transparency on the Business Investment Pipeline, how businesses are engaged in the MCA’s business support offer, and how it is agreed whether grants or loans are offered.
ACTION: Business Growth Advisor to attend the December Board meeting to give an overview of enquiries made and how decisions are made to allocate grants and loans, or any enquiries which are signposted elsewhere.
RESOLVED: To note the Business Development Projects Status Update. |
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Programme Approvals Additional documents:
Minutes: A Programme Approvals Report was presented to the Board for approval. It included one programme which sought progression from a Strategic Business Case (SBC) to and Outline Business Case (OBC).
The proposal sought to create a world-leading green aerospace cluster in Doncaster. It was confirmed that the project was not reliant on an active airfield, nor Doncaster Sheffield Airport’s operation, to go ahead.
Due to the requested amount to be funded, a loan of £7m, approval would also be required from the MCA Board.
RESOLVED: To approve the progression of “D0049” project to the MCA board for approval to progress from SBC to OBC subject to the conditions in the Assurance Panel Summary attached at Appendix A.
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Programme Performance Update Additional documents:
Minutes: An update on performance of programmes was presented to the Board, which provided a summary of projects within the Board’s remit.
It was noted that most funding was allocated through the South Yorkshire Renewal Fund, a combination of different funds which includes Gainshare. The MCA Board in March 2022 agreed to notionally allocate Gainshare funding according to the population of each Local Authority, with a 20% top slice for MCA-led interventions.
The Board recommended the development of a framework for allocating funding which ensures appropriate projects are funded at the right time, and members expressed frustration with the assurance process and lack of role for Board members in the decision-making process.
It was noted that the BGRB co-chair, also Chairs the MCA Assurance Panel, which assesses investment projects and makes recommendations to the relevant Board in line with the Assurance Framework which is agreed by the LEP and MCA Boards each year.
It was asked what happens to any underspend of funds. It was confirmed that only the Made Smarter funding had restrictions on how and when it is spent.
ACTION: Executive Director Finance & Investment to work with Director Business & Skills and Sharon Kemp to develop a clear picture of where funds come from, and present to the December Board meeting.
ACTION: Board to meet before December Board meeting to receive an overview of the funding allocation decision making process.
RESOLVED: To note the Programme Performance Update. |
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Project Mandate: South Yorkshire Co-Investment Fund Minutes: A Project Mandate: South Yorkshire Co-Investment Fund was presented to the Board for approval.
It was noted that, if approved by the Board here, the project would progress through the assurance process, and depending on the amount of funding to be allocated, progress to the MCA Board or this Board for approval. It was confirmed that a Full Business Case was already being developed for this project in anticipation of the next steps in the process.
The Board noted that it would be preferable for this project to begin work within the next 6 months, and frustration was expressed by the Board regarding the length of the assurance process, and how it can inhibit the success of projects such as this.
Board members gave their willingness to support this project however they could, including their willingness for Delegated Authority to be used to allocate funding if the assurance panel confirms that all required outcomes have been met.
The Board requested fuller detail going forward in the covering reports for projects seeking approval, such as how particular companies are chosen as partners.
RESOLVED: To accept the Mandate and allow it to progress further through SYMCA’s assurance process
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Project Mandate: Tech South Yorkshire Proposal Additional documents: Minutes: A Project Mandate: Tech South Yorkshire Proposal was presented to the Board for approval.
The proposal was seeking to create a better environment and framework of support for the development of technological innovation in the region. It was stated that the region was currently missing out on funding opportunities because of a lack of clarity on this topic.
It was noted that lots of tech innovation took place in Barnsley, but that this was a regional proposal which would be led by a regional steering group. The Board asked that all Local Authorities are fully included in the progression of the project.
ACTION: Innovation Project Director to share the opportunity for membership on steering group to all LAs.
ACTION: Innovation Project Director to work with Board members outside of Board meetings to ensure equitable coverage of all Local Authorities in the project.
Collaboration had been undertaken with partners in Finland who had successfully established similar projects, and useful intelligence had been gained. The Board encouraged this approach.
A communications strategy was also underway to reach stakeholders and investors.
ACTION: Innovation Project Director to provide an update on the Tech SY communications strategy.
RESOLVED: To accept the Mandate and allow it to progress further through SYMCA’s assurance process |
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Any Other Business Minutes: A question was asked on Investment Zones, and if the MCA was successful in its bid, proposals relating to this would be brought to this Board. It was confirmed that they would, although no response had been received from government yet. |