Venue: Civic Suite, Pathfinder House, St Mary's Street, Huntingdon PE29 3TN
Contact: Email: rob.fox@cambridgeshirepeterborough-ca.gov.uk
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Apologies for Absence To receive any apologies for absence and notification of substitutions. Minutes: There were no apologies from members of the Committee.
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Declaration of Interests At this point Members must declare whether they have a disclosable pecuniary interest, or other interest, in any of the items on the agenda, unless it is already entered in the register of members’ interests. Decision: There were no declaration of interests made. Minutes: There were no declaration of interests. |
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Chair's Announcements To receive any announcements from the Chair. Decision: The Chair welcomed Members to their first meeting and expressed his pride in chairing this new committee which would build on the existing governance structure to drive more timely, strategic and effective decisions on investments.
Minutes: The Chair welcomed Members to their first meeting and expressed his pride in chairing this new committee which would build on the existing governance structure to drive more timely, strategic and effective decisions on investments.
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Election of Vice-Chair To elect a Vice-Chair of the Committee. Decision: RESOLVED:
On being proposed by the Chair and seconded by Cllr Smith, Cllr Sam Wakeford was unanimously elected as Vice-Chair of the Committee.
Minutes: On being proposed by the Chair and seconded by Cllr Smith, Cllr Sam Wakeford was unanimously elected as Vice-Chair of the Committee.
RESOLVED: That Cllr Sam Wakeford be elected as Vice-Chair of the Committee.
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Investment Committee Terms of Reference To formally note the Committee’s Terms of Reference as previously agreed by the Combined Authority Board. Additional documents: Decision: RESOLVED:
The Committee noted the Terms of Reference.
Minutes: The Monitoring Officer introduced the report which presented the Terms of Reference for the Committee.
During discussion the following points were noted: a) The Committee’s intent was to work collaboratively across all the districts and to reflect the practices observed in other portfolio committees. b) The Committee set up allowed for a more comprehensive assessment of projects with measures including not only a return on investment but also job creation, social impact and alignment with long term growth strategies. These measures were to remain flexible to accommodate the unique aspects of each project. c) Clearly defined and agreed upon terms of reference ensured consistency and minimised any potential disruptions in project continuity, even in the event of leadership changes. d) The Committee agreed to keep the terms of reference under review as the Committee developed in its remit.
RESOLVED: The Committee noted the Terms of Reference.
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Single Assurance Framework Business Case Approvals: Chief Executive Officer Decisions To note the Chief Executive business case decisions for projects less than £1m, under the Single Assurance Framework arrangements. Decision: RESOLVED:
The Investment Committee resolved to:
A. Note the Chief Executive business case decisions for projects less than £1m under the Single Assurance Framework.
Minutes: The Executive Director of Resources introduced the report which set out the projects which had been approved by the Chief Executive in accordance with the delegated authority from the Board.
During discussion the following points were discussed:
a) The funding for the Climate Action Plan covered not only the updating of the Plan but also significant public engagement and work on climate adaptation, particularly regarding water management and overheating risks. b) The challenges of planning for varying growth scenarios due to the concurrent nature of data gathering and plan development were acknowledged. The approach would involve scenario planning based on existing and projected growth, allowing the evidence base to adapt to different levels of growth. c) Several anticipated outcomes from the Energy Plan were outlined and were as follows:
d) While the Plan would not solve all future technological uncertainties, it would help map out opportunities and provide a clearer picture of the region's energy needs. This would include working with industry and businesses to anticipate power supply and voltage issues, particularly in high-growth areas. e) Climate projects would be coordinated with the constituent authorities through the Local Authority Place Directors meeting, ensuring that planning efforts were aligned across all regions. f) Members were reassured by officers that engagement had been, and would continue to be, a critical component of the Climate Action Plan g) Governmental organisations, universities, hospitals, and other institutions faced challenges in implementing energy plans due to their budgeting constraints. These institutions often had budget structures that discouraged participation in local energy plans, preferring instead to negotiate their own deals. h) Members expressed concerns about the privatised and regulated nature of the electricity grid, describing it as a "broken system." Examples from Cambridge were cited, where insufficient grid capacity delayed necessary reinforcements until the Greater Cambridge Partnership (GCP) intervened. i) The Energy Plan was designed to explore opportunities such as smart grids and neighbourhood heat networks, focusing on future energy needs and achieving net-zero targets. While the exact level of detail was not yet determined, the Plan aimed to identify and incorporate these opportunities. j) The broader challenges of energy infrastructure had been raised with the National Infrastructure Commission, particularly the challenge of providing infrastructure ahead of growth and the first-mover disadvantage. The Plan intended to serve as a robust evidence base for local plans, though it would not direct where growth should occur as that remained a decision for local authorities. k) The concern about grid capacity was acknowledged but demand management, smart use of energy, and battery storage would be part of the study's ... view the full minutes text for item 6. |
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Investment Concept Papers To consider and comment on the concept proposals within the report prior to their presentation to the CPCA Board on 4 September 2024. Additional documents:
Decision: RESOLVED:
The Investment Committee resolved to:
A. Note and comment upon the concept papers prior to their presentation CPCA Board at its meeting on 4 September 2024:
Minutes:
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To note major projects performance data and the wider CPCA project landscape. Additional documents:
Decision: RESOLVED:
The Investment Committee resolved to:
A. Note the performance against major projects supported by Cambridgeshire and Peterborough Combined Authority (CPCA) B. Note the summary of the wider CPCA project landscape
Minutes: The Committee received a report from the Executive Director of Resources which set out performance data for the major projects supported by CPCA investment and highlighted the wider CPCA project landscape.
During discussion the following points were noted: a) The Combined Authority was developing a single project register to enhance reporting transparency. This register would consolidate data across projects, allowing for more effective and detailed reporting to the Committee. The goal was to provide clear updates on the scale, progress, and challenges of ongoing projects. b) Funding for the Peterborough Station Quarter (PSQ) was secured by the Combined Authority in partnership with Peterborough City Council, with the Combined Authority serving as the overarching sponsor. The project was being led by Peterborough City Council, and the funds were focused on transport infrastructure, including the Eastern and Western access to the station. c) Phase 1 of the PSQ project did not include the Great Northern Hotel as it was expected to be addressed in later phases as part of the broader northwest Gate project. d) The PSQ project was complex and required realistic expectations. The use of an "amber" rating reflected a prudent understanding of the challenges involved. e) The Strategic Director of Resources thanked Committee Members for providing valuable feedback and assured them that the Committee's input would help shape the reporting and monitoring processes going forward. f) Overseeing projects that had already been approved by Board and were currently being delivered was part of the Committee’s responsibilities, as set out within its terms of reference. The Chair reiterated that while initial decisions may be in the past, the Committee still played a critical role in monitoring, challenging officers on project progress, ensuring that projects were on track and ensuring accountability. g) The focus of this first meeting was on getting feedback and setting the stage for future decision-making. The Committee would also have the opportunity to review performance and suggest strategic adjustments as needed. h) Members expressed confidence that the current governance structures, including the Committee's work, demonstrated that the Combined Authority was a well-managed organisation and suggested that the external auditors should recognise this progress and consider removing any best value notices. i) The Chair concluded the discussion by thanking all members for their contributions. He reiterated that the Committee’s role would evolve, and future meetings would involve a mix of reviewing ongoing projects and making new investment decisions. The Chair also acknowledged the importance of robust discussions, as they contributed to the collective wisdom and effectiveness of the Committee.
RESOLVED:
The Investment Committee resolved to: A. Note the performance against major projects supported by Cambridgeshire and Peterborough Combined Authority (CPCA) B. Note the summary of the wider CPCA project landscape
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To note the Committee’s Work Programme. Additional documents: Decision: RESOLVED:
The Investment Committee resolved to:
A. Note the Work Programme Minutes: RESOLVED:
The Investment Committee resolved to:
A. Note the Work Programme |
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Date of Next Meeting 30 September 2024 Decision: The date of the next meeting was confirmed as Monday 30 September 2024.
Minutes: The date of the next meeting was confirmed as Monday 30 September 2024.
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