Minutes:
Andy Fisher (Barton Wilmore), assisted by Graeme Collinge (Genecon) gave a presentation on the Town Investment Plan (TIP) Objectives and Criteria.
Andy advised that the Stevenage TIP process had reached Stage 3 – Rationalisation of Scope and Project capture. Priority Areas for short, medium and long term should include activity that could be locally funded; projects that could be supported by public investment; and ambitions for private sector investment and community involvement.
Andy stated that between this Board meeting and the next one on 29 July 2020, the emphasis would be on the production of a first draft of a Project Programme (from which the TIP could be produced by drawing down projects from that programme). The Government would be very much looking for “oven-ready” projects.
Graeme commented that the process in assessing projects would include the following steps:
Check 1 – alignment with the Vision and Core values;
Check 2 – alignment with Theme outcomes and objectives;
Check 3 – deliverability, funding and value for money (this would also be the project prioritisation/ranking stage)
Graeme explained the matrices it was proposed to use for ranking projects in each of the above steps. Potential projects should aim to fulfil at least one objective, but preferably more, in their respective Theme areas.
Graeme reiterated comments made earlier in the meeting that efforts should focus on the consistency of presentation of information by the various Board Sub-Groups, in terms of the use of standard templates, etc.
In respect of the anticipated further Government guidance on the Town Deal, Graeme advised a 3 stage process would be confirmed, as follows;
Stage 1 – Submission of a Town Investment Plan (TIP)
Stage 2 – At the invitation of the MHCLG, the preparation of a full Business Case
Stage 3 – A negotiated Town Deal
Graeme further advised that the MHCLG had not yet issued guidance on how the Town Investment Plans would be assessed, although the assumption was that MHCLG would require a Land Value Uplift (LVU) approach to test Benefit Cost Ratio/value for money – however, this was still to be clarified.
Andy concluded the presentation by referring to the next steps, which were:
1. Further discussion with the Theme Leads;
2. Finalisation of thematic Objectives, Outcomes and Projects
3. Themes/Objectives to be published for feedback
4. Initial appraisal and reporting of results to Client Team
5. Second appraisal
6. Preparation of First draft TIP Programme
7. Presentation to Development Board
The Chair invited Karen Hillen (BEIS) to update the Board on the position regarding further Government guidance regarding the Town Deal Fund.
Karen advised that the further guidance was expected within the next couple of weeks, and would be adjusted to recognise the impact of the Covid-19 pandemic. This would include an amendment to the timings for submission of completed TIP bids, with three deadline dates of being in tranches, for example potentially at the end of July 2020; the end of October 2020; or the end of March 2021. Bidders would be required to identify to the Government which deadline they intended to meet within four weeks of the receipt of the further guidance, though dates could change.
In response to a request from Graeme Colling (Genecon), Karen undertook to investigate and report back to him outside of the meeting regarding confirmation (or otherwise) that the MCHLG would be using an LVU approach based on the HM Treasury Green Book as part of their assessment of Town Investment Plan bids.