Issue - meetings

(1)   the Council to progress to formal designation of the Enterprise Zone on 1^st April 2017 subject to recommendation 3.

(2)   the Council enters into the Memorandum of Understanding (MOU), set out as Appendix 1 of the report, and delegates authority to the Corporate Director (Housing and Regeneration) to sign the MOU

(3)   a further report to be brought before the designation of the Enterprise Zone in April 2017 setting out an analysis of the final business plan and any other matters relating to the viability of the proposal

(4)   That authority be delegated to the Corporate Director (Housing and Regeneration) in consultation with the Corporate Director (Finance and Operations) and the Portfolio Holder for Finance and Resources to vary the terms of the MOU following completion subject to such variations being agreed with the other Enterprise Zone parties.

Decision

(1)    the Council to progress to formal designation of the Enterprise Zone on 1^st April 2017 subject to recommendation 3.

(2)    the Council enters into the Memorandum of Understanding (MOU), set out as Appendix 1 of the report, and delegates authority to the Corporate Director (Housing and Regeneration) to sign the MOU

(3)    a further report to be brought before the designation of the Enterprise Zone in April 2017 setting out an analysis of the final business plan and any other matters relating to the viability of the proposal

(4)    That authority be delegated to the Corporate Director (Housing and Regeneration) in consultation with the Corporate Director (Finance and Operations) and the Portfolio Holder for Finance and Resources to vary the terms of the MOU following completion subject to such variations being agreed with the other Enterprise Zone parties.

Reason for Decision

To inform Cabinet about the progress made on the Hertfordshire Enviro-Tech Enterprise Zone and to consider the requirement to agree the Memorandum of Understanding that will guide its eventual operation.

Implications

Financial

The immediate financial impact on the Council will largely be officer time in supporting the Enterprise Zone Board and contributing the operational sub-groups. This will be delivered within existing budgets.

If the Enterprise Zone is designated in April 2017 then all the Business rates growth will be retained within the zone and capable of use for infrastructure and other interventions to resolve transport deficiencies in and around Maylands in order to achieve economic growth. Once the infrastructure needs are met then there will be sharing of the retained income for use by the accountable bodies and Hertfordshire Local Enterprise Partnership, which will include Dacorum Borough Council.

Value for Money

Value for Money considerations are set out above.

Risk Implications

A risk assessment is attached as Appendix 2 to the report.

There is a risk that will need to be considered in the context of the St Albans Local Plan which, if stopped following the recent hearing on the meeting of its Duty to Cooperate, may well render the EZ unviable in terms of its ability to deliver the required level of resources for the infrastructure required in the Maylands and East of Hemel Hempstead area. If still an issue this matter will be considered in a further report to Cabinet before designation.

Health & Safety Implications

None applicable

Equalities Implications

No specific equalities impact assessment has been carried out at this point but will be factored into the business plan and actions of the EZ Board.

Corporate Objectives

Ensuring economic growth.

Monitoring Officer/S.151 Officer Comments

Monitoring Officer:  

The Enterprise Zone (EZ) will commence on 1 April 2017 unless specific intervention is made by the local authorities, the LEP or the Secretary of State prior to that date.

The Memorandum of Understanding sets out the key objectives and commitments of the parties to work together in setting up and operating the EZ, but does not in itself designate the area which is approved by central government.  ...  view the full minutes text for item 118