D2N2 BOARD MEETING

Wednesday 14December 2011

Hardstaff Group, Hillside, Gotham Road, Kingston on Soar, Nottingham, NG11 0DF

Minutes of meeting – Key actions, decisions and noted items

Chair Trevor Fletcher (Acting Chair in Colin Walton’s absence)

MinutesSee decision sheet attached

ReportsNo written report

1. Present and Apologies

D2N2 Board Members in attendance

Trevor FletcherHardstaff Group (Chair)

David RobinsonSpeedo

Professor John CoyneUniversity of Derby

Councillor Andrew LewerDerbyshire County Council

Councillor Philip HicksonDerby City Council

Richard HorsleyDNCC

Councillor Kay CuttsNottinghamshire County Council

Councillor Jon CollinsNottingham City Council

Also in attendance

George CowcherDNCC

Mick BurrowsNottinghamshire County Council

Nick HodgsonDerbyshire County Council

Adam WilkinsonDerby City Council

Apologies

Colin Walton (Chair)Bombardier Transportation Group

Duke of DevonshireChatsworth

Jane ToddNottingham City Council

Officer Support

Matt LockleyNottinghamshire County Council

Penny WakefieldNottingham City Council

Richard WilliamsDerby City Council

David BishopNottingham City Council

Matthew WheatleyD2N2

2. Declarations of interest

2.1 There were no declarations of interest in addition to those noted at previous meetings

3. Actions

See Decisions Note attached.

D2N2 LEP Board Meeting

14th December 2011

Board decisions

Growing Places Fund

Decision 1

The Board agreed that a number of principles should be applied to the approval process for the Growing Places Fund. The principles relate to ensuring due diligence, financial probity, transparency and clear criteria are applied to all proposals with clear accountability and governance.

The Board discussed the opportunity for investment that the Growing Places Fund presents.

Decision 2

In accordance with the Board’s strategic priorities the Nottinghamshire Enterprise Zone is a high priority by D2N2. A successfully delivered Enterprise Zone will enable businesses to taking advantage of the benefits it offers. It also has the potential to return significant financial benefit to the LEP with any business rates created through the Enterprise Zone for 25 years being retained by the LEP for future investment to further support the economy.

Decision 3

The Board agreed that the Enterprise Zone would be given top priority for Growing Places Funding and that GPF would not be allocated to any other projects until the details and level of financial commitment for the Enterprise Zone had been fully investigated, agreed and confirmed.

Decision 4

The Board agreed that expressions of interest from other potential projects should be invited for preliminary consideration. These expressions of interest would be assessed against a set of agreed criteria which would address the Board’s strategic priorities. Key criteria would include – Return on investment, jobs created, GVA/GDP growth potential, leverage and deliverability. (Initial draft of criteria attached for guidance)

Note - Funding would not be allocated to other projects until the Enterprise Zone priority allocation had been confirmed.

Decision 5

The Board agreed that a core team comprising Board Members (Richard Horsley and David Robinson) and Officers (David Bishop and Adam Wilkinson) would immediately engage with lead representatives from the Alliance Boots with the aim of confirming the business case and preparing a proposal for the Board to consider in January. An independent consultant will be engaged to advise the core team.

Discussion

The Board also discussed a number of associated opportunities that the development of the Enterprise Zone may present. The Board agreed to discuss these at its next meeting once further clarification on the allocation of the Growing Places fund had been confirmed.