Agenda, decisions and minutes

Venue: Room 116, West Midlands Combined Authority, 16 Summer Lane, Birmingham, B19 3SD

Contact: Wendy Slater, Senior Governance Services Officer 

Items
No. Item

34.

Apologies for Absence

Presented By: Chair

Minutes:

Apologies for absence were received from Councillor Sleigh (Solihull) and Sue Summers (West Midlands Development Capital)

35.

Minutes -22 July 2024

Minutes:

The minutes of the meeting held on 22 July 2024 were agreed as a correct record.

36.

Matters Arising

Minutes:

Minute No.20 Investment Programme Update

 

In relation to the action identified by the Director of Finance and Business Hub to be undertaken in conjunction with the Director of Commercial and Investment, to look at how the status of projects are communicated and to report back on mitigation measures and an action plan for those projects in Coventry and Solihull with a red status, the Chair asked that a report be submitted in 3 months’ time. 

37.

Investment Programme Update pdf icon PDF 221 KB

Presented By: Ian Martin

Additional documents:

Decision:

 

1 The approval under delegated authority by WMCA Officers of the business

    case submissions disclosed at section 4 of the report be noted;

2. The WMCA Investment Programme funding status and current affordable

    limit as outlined in section 4 of the report be noted and

3.The Regional Investment Programme delivery update detailed within this

    report and appendices (including the project-level summary within the

    WMCA Investment Programme dashboard at Appendix 2) be noted.

 

Minutes:

The board considered a report of the Director of Commercial and Investment that provided a monthly update on the status of the Investment Programme to help set the context for any investment decisions being made at the meeting.

 

Resolved that:

 

1. The approval under delegated authority by WMCA Officers of the business

    case submissions disclosed at section 4 of the report be noted;

2. The WMCA Investment Programme funding status and current affordable

    limit as outlined in section 4 of the report be noted and

3.The Regional Investment Programme delivery update detailed within this

    report and appendices (including the project-level summary within the

    WMCA Investment Programme dashboard at Appendix 2) be noted.

 

38.

Commercial Investment Fund Dashboard pdf icon PDF 597 KB

Presented By: Nick Oakley

Decision:

Noted.

Minutes:

The board considered a report detailing the Commercial Investment Fund dashboard (public iteration) as at 1 August 2024.

 

Resolved that : The report be noted.

39.

Brownfield Land & Property Development Fund pdf icon PDF 593 KB

Presented By: Nick Oakley

Decision:

Noted.

Minutes:

The board considered a report detailing the Brownfield Land & Property Development Fund dashboard (public iteration) as at 1 August 2024.

 

Resolved that: The report be noted.

 

 

40.

Residential Investment Fund Dashboard pdf icon PDF 592 KB

Presented By: Nick Oakley

Decision:

Noted.

Minutes:

The board considered a report detailing the Residential Investment Fund dashboard (public iteration) as at 1 August 2024.

 

Resolved that : The report be noted.

41.

Exclusion of the Public and Press

[In accordance with s100(A) of the Local Government Act 1972, the public and press be excluded from the meeting for the following items of business as they are likely to involve the disclosure of exempt information as specified in the paragraphs of the Act.]

Presented By: Chair

Decision:

That : In accordance with s100(A) of the Local Government Act 1972, the public and press be excluded from the meeting for the following items of business as they are likely to involve the disclosure of exempt information as specified in the paragraphs of the Act.

Minutes:

Resolved that:

 

In accordance with s100(A) of the Local Government Act 1972, the public and press be excluded from the meeting for the following items of business as they are likely to involve the disclosure of exempt information as specified in the paragraphs of the Act.

42.

Abbotts Lane Extension

Presented By: Ed Bradburn

Decision:

1.     The comments made by Investment Panel when this proposal was presented be noted;

2.     The extension of the loan for the sum specified in the report, which includes initial period of accrued interest for a term of 2 years under the Commercial Fund/Residential Investment Fund as outlined in the report be approved and

3.     The negotiation and approval of the final terms of the loan be delegated to the Director of Commercial and Investment be agreed.

Minutes:

The board considered a report of the Executive Director of Finance and Business Hub that sought approval to extend an existing loan for a further 2 years that expires on 30 September 2024.

 

Ed Bradburn, West Midlands Development Capital outlined the reasons for the extension and reported that the loan facility if extended, would be on the same terms as the existing loan facility and the existing security would stay in place.

 

Resolved that:

 

 

1.    The comments made by Investment Panel when this proposal was presented be noted;

2.    The extension of the loan for the sum specified in the report, which includes initial period of accrued interest for a term of 2 years under the Commercial Fund/Residential Investment Fund as outlined in the report be approved and

3.    The negotiation and approval of the final terms of the loan be delegated to the Director of Commercial and Investment be agreed.

43.

Parkes Homes Extension

Presented By: Kieren Turner- Owen

Decision:

1.     The comments made by Investment Panel when the proposal was presented be noted;

2.     The 12- month extension to support the continued investment of a £1m loan to the ‘Company’ under the Commercial Investment Fund/Residential Fund as outlined in the report be approved and

3.     The negotiation and approval of the final terms of the loan be delegated to the Director of Commercial and Investment be approved.

Minutes:

The board considered a report of the Executive Director of Finance and Business Hub that sought approval for a 12-month extension to a loan that expires on 27 September 2024.

 

Kieren Turner-Owen, West Midlands Development Capital outlined the main reasons for the loan extension and reported that the terms for the loan remain the same.

 

Resolved that :

 

1.    The comments made by Investment Panel when the proposal was presented be noted;

2.    The 12- month extension to support the continued investment of a £1m loan to the ‘Company’ under the Commercial Investment Fund/Residential Fund as outlined in the report be approved and

3.    The negotiation and approval of the final terms of the loan be delegated to the Director of Commercial and Investment be approved.

44.

Collaborative Partnership Agreement - Affordable Housing Pilot

Presented By: Rob Lamond

Decision:

 

  1. The Collaborative Partnership Agreement (‘CPA’) attached as appendix 1 to the report  be deferred at this stage, but the proposed disposal of the Abberley Street site (‘the pilot site’) and the next steps with regards to Abberley Street be agreed and
  2. The Collaborative Partnership Agreement be re-submitted to Investment Board for endorsement, and that the revised report set out the costs and the benefits of the Partnership with the likely outputs and outcomes that would be achieved.

 

Minutes:

The board considered a report of the Chief Executive that sought endorsement to enter into a Collaborative Partnering Agreement (“CPA”) with the Homes for the West Midlands Limited Liability Partnership (“the LLP”) for the purpose of furthering and increasing the development of new affordable housing on brownfield sites, whilst also contributing to key WMCA policy objectives including net zero and advanced methods of construction.

 

The Head of Strategy and Analysis, Rob Lamond, outlined the key aspects of the report including the background to the Agreement and the five participating registered providers (“RPs”) that would work closely with the WMCA to drive affordable housing.

 

Councillor O’Boyle (Coventry) expressed concerns that one of the five participating RPs in the CPA and pilot had pulled out of its housing commitment for the Coventry City Centre South scheme which left the scheme in precarious position as its successor could not confirm funding was in place. He considered the WMCA should not commit to funding other projects with the said RP whilst there was a funding issue for Coventry City Centre South.

 

The Head of Strategy and Analysis, Rob Lamond advised that the Agreement would not commit the RP to deploying any funds but would seek to combine the best efforts of all those involved to deliver more affordable housing in the region. He reported that the WMCA could have discussions with Coventry Officers concerning the Coventry City Centre South scheme and funding from Homes England.

 

Councillor O’Boyle commented further that whilst he understood the principles of the CPA, and supported Abberley Street as the pilot site, he did not think it was the right time for the Agreement to be taken forward when Coventry City Centre South scheme was in jeopardy and this was a priority for the WMCA.

 

Councillor Burden (Wolverhampton) indicated that he would want to see KPIs, and outcomes/outputs included in the Agreement so there was a measure of accountability.

 

The Head of Strategy and Analysis reported that work was being undertaken with the RPs to establish what they would deliver each year, along with targets that would form part of a future business plan.

 

Following further discussion, the board agreed to defer the Agreement but to continue to progress Abberley Street as the pilot site.

 

The Director of Commercial and Investment, Ian Martin, undertook to contact officers at Coventry regarding funding issues relating to Coventry City Centre South and follow-up the matter with Homes England as appropriate.

                                              

Resolved that:

 

  1. The Collaborative Partnering Agreement (‘CPA’) attached as appendix 1 to the report be deferred at this stage, but the proposed disposal of the Abberley Street site (‘the pilot site’) and the next steps with regards to Abberley Street be agreed and
  2. The Collaborative Partnership Agreement be re-submitted to Investment Board for endorsement, and that the revised report set out the costs and the benefits of the Partnership with the likely outputs and outcomes that would be achieved.

 

45.

Commercial Investment Fund Dashboard

Presented By: Nick Oakley

Decision:

The report be noted.

Minutes:

The board considered a report detailing the Commercial Investment Fund as at 1 August 2024.

 

Nick Oakley (West Midlands Development Capital) provided an update on the status of the schemes in the fund since the last meeting and reported that there were no concerns across the portfolio.

 

Resolved that :The report be noted.

46.

Brownfield Land & Property Development Fund Dashboard

Presented By: Nick Oakley

Decision:

The report be noted.

Minutes:

 

The board considered a report detailing the Brownfield Land and Property Development Fund dashboard as at 1 August 2024.

 

Resolved that: The report be noted.

47.

Residential Investment Fund Dashboard

Presented By: Nick Oakley

Decision:

The report be noted.

Minutes:

The board considered a report detailing the Residential Investment Fund dashboard as at 1 August 2024.

 

Nick Oakley (West Midlands Development Capital) provided an update on the status of schemes in the fund

 

Resolved that :The report be noted.

48.

Black Country Land & Property Investment Fund Dashboard

Presented By: Alison Guerra

Decision:

The report be noted.

Minutes:

The board considered the Black Country Land and Investment Fund dashboard as at 8 August 2024.

 

The Accountable Body, Governance, Finance and Performance Manager, Alison Guerra, presented the report and provided updates on projects since the last meeting.

 

Resolved that :The report be noted.

49.

Housing & Land Funds Dashboard

Presented By: Rob Lamond

Decision:

The report be noted.

Minutes:

The board considered a report detailing the housing and land funds dashboards.

 

The Head of Development and Delivery, Ben Colman, provided a high-level update on the funds. He also undertook to look at how the material could be better presented so that it was easier to read,

 

The Chair noted that following the removal of the Housing and Land Delivery Board from the WMCA’s governance structure, there was no oversight of the major housing spends/ housing decisions taken which was a concern. The Chair undertook to speak to the Mayor on how the matter could be addressed. 

 

Resolved that: The report be noted.

50.

16 September 2024

Presented By: Chair