Agenda and minutes

Apologies for absence had been received from Councillor Jim O’Boyle (Coventry City Council), Councillor Sean Coughlan (City of Wolverhampton, Dudley MBC, Sandwell MBC and Walsall MBC), Councillor Peter Richards (Stratford on Avon District Council), Paul Brown (Black Country local Enterprise Partnership), Nick Abell (Coventry and Warwickshire Local Enterprise Council) and Gary Taylor (Greater Birmingham and Solihull Local Enterprise Partnership).

Apologies for absence had also been received from David Cockroft (Coventry City Council), Linda Horne (West Midlands Combined Authority), Sarah Middleton (Black Country Consortium) and Mark Taylor (West Midlands Combined Authority). 

The Chair welcomed Councillor Majid Mahmood (Birmingham City Council) to his first meeting of the Investment Board.

Councillor Robert Hulland declared a personal interest in Agenda Item No. 5 (Midland Metro East Birmingham – Solihull Extension and Trams 2030 – Development Funding) inasmuch as he was a member of the Board of Arden Cross Ltd.

Councillor Majid Mahmood declared a personal interest in Agenda Item No. 5 (Midland Metro East Birmingham – Solihull Extension and Trams 2030 – Development Funding) inasmuch as he was a Governor of the Heart of England NHS Trust.

Resolved:

That the minutes of the meeting held on 26 May 2017 be confirmed as a correct record and signed by the Chair.

There were no matters arising from the minutes of the meeting held on 26 May 2017.

Peter Adams presented a report which provided an update on the development of the Midland Metro EBS extension and which sought approval for funding of £9.5m to progress the project through the Transport and Works Act order (TWAO) process and into detailed design. The report also provided an update on the Trams 2030 work stream and sought approval for £0.70m to complete the next phase of detailed studies.

The Chair reminded the Board that this scheme had formed part of the Devolution Deal. Councillor Robert Hulland commented that this was the type of scheme that the West Midlands Combined Authority had been established to deliver. He questioned whether lessons had been learnt from previous schemes and whether the sum of £9.5m was sufficient to progress the scheme through the TWAO process. Peter Adams advised that a number of team members had experience from previous projects, that this was the first scheme to be developed from inception by the Midland Metro Alliance and with the experienced Parliamentary Agents as used previously, he was confident that the sum was sufficient.

Councillor Majid Mahmood welcomed the scheme and commented that it would seek to address connectivity in East Birmingham and hopefully reduce deprivation in the area. He questioned whether dialogue had commenced with the Heartlands Hospital as the scheme would be likely to increase the number of patients accessing services at that hospital. He also queried if the completion of the scheme could be accelerated in the event of Birmingham being awarded the Commonwealth Games in 2022. Peter Adams advised that a stop would be provided by the hospital and that it was intended to work closely with the management team by the hospital and all stakeholders. He reported that completion of the scheme by 2022 was ambitious but that it was hoped the more advanced Eastside extension would be capable of running to Digbeth by that time. He reminded the Board that construction work could not commence until such time as the TWAO process had been completed albeit that the WMCA Mayor and Laura Shoaf, Managing Director of Transport for West Midlands had spoken with the Permanent Secretary at the Department for Transport on the need for rapid processing of the Order.

Resolved:

1.    That the progress being made on the early stages of the development of the East Birmingham to Solihull (EBS) metro Extension scheme be noted;

2.    That in accordance with agreed delegations funding of £9.5 m be approved  to progress the EBS scheme through the statutory Transport and Works Act Order (TWAO) process; and

3.    That in accordance with agreed delegations, funding of £0.70 be approved to progress the Trams 2030 Programme of Works.

[To pass the following resolution:

That, in accordance with Section 100A(4) of the Local Government Act, 1972 the public and press be excluded from the meeting for the following items of business as they involve the likely disclosure of exempt information relating to the business affairs of any particular person (including the authority holding that information)].

Resolved:

That in accordance with Section 100(A) of the Local Government Act, 1972 the press and public be excluded from the meeting for the following items of business as it involves the likely disclosure of exempt information relating to the business or financial affairs of any particular person (including the authority holding that information).

Gerald Gannaway presented a report on a Collective Investment Fund (CIF) Senior Debt Loan in the sum of £1.45m with a bridging facility with a maximum term of two years with repayment from refinance by RBS and responded to questions posed by those present.

Resolved:

            That the Senior Debt Loan as now reported be approved.

Nick Oakley presented the WMCA CIF / LRF Dashboard as at 1 July 2017 which detailed:

·         Investments committed;

·         Geographical allocation; and

·         Pipeline – WIP

Resolved:

            That the Dashboard be received and noted.