E.97/21
The Deputy
Leader introduced a report providing an update on the Plymouth and
South Devon Freeport Business Case and information on the
associated financial modelling.
In
discussion, reference was made to:
(a)
the need for this Special Executive
Meeting. When questioned, it was noted
that this Special Executive meeting had been convened to enable for
the Executive to consider this matter in advance of the Full
Council meeting to be held later in the day;
(b)
the lack of reference in the published agenda report
to apprenticeships. A Member felt it to
be unfortunate that the agenda report had not included a separate
section solely on apprenticeships.
Whilst the initiative would lead to a number of direct benefits in
relation to the provision of skilled labour apprenticeships, the
Executive also wished to confirm its support to promote
opportunities for apprenticeships through the operation of the
Freeport;
(c)
the initiative representing a great opportunity for
the Plymouth and South Devon area.
Members highlighted the extent of the opportunities and far
reaching benefits that would be generated by this initiative and
particular reference was made to the reduction in carbon footprint
that would result at Langage.
It
was then:
RECOMMENDED
That the Executive RECOMMEND to
Council to:
1. Approve South
Hams District Council’s full participation in the Plymouth
and South Devon Freeport.
2. Approve the
formation of a company limited by guarantee and for South Hams
District Council (SHDC) to be a founder member alongside Devon
County Council (DCC) and Plymouth City Council (PCC) to operate the
Freeport
3.
Delegate authority to the Director of Place and Enterprise, in
consultation with the Leader of the Council, Executive Member for
Economy and S151 Officer to:
a. submit the Full Business Case (FBC)
for the Plymouth and South Devon Freeport
b. approve the articles of association and reserved matters for the
Freeport company and enter into member agreements between SHDC, PCC
and DCC, and other relevant legal agreements
c. Enter into the business rates
retention sharing agreement with DCC, as set out in 4.22
to
4.24
of the report
d. Enter into land owner
agreements aligned to Freeport objectives
e. Acquire land at Langage to deliver Freeport objectives
4. Approve borrowing up to
£5m from the Public Works Loan Board (funded from the
retained business rates income generated), at such time as is
advised by the S151 Officer, to match fund the Freeport Government
seed funding relating to the delivery of the Langage site
5.
Utilise funding from the SHDC Business Rates Retention Earmarked
Reserve in 2022/23 (£6,000) and 2023/24 (£57,000) to
provide upfront funding to the Freeport, which will then be repaid
in 2024/25 from the retained business rates income generated from
2024/25 onwards.