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Greater Birmingham and Solihull LEP Birmingham City Centre Enterprise Zone Governance and Financial Strategy

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Greater Birmingham and Solihull LEP Birmingham City Centre Enterprise Zone Governance and Financial Strategy Greater Birmingham and Solihull LEP Birmingham City Centre Enterprise Zone Governance and financial strategy September 2016 Contact Economy Directorate Birmingham City Council Click: Email: [email protected] Web: www.birminghamenterprisezone.org Call: Telephone: (0121) 303 3075 Visit: Office: 1 Lancaster Circus Birmingham B4 7DJ Post: PO Box 28 Birmingham B1 1TU You can ask for a copy of this document in large print, another format or another language. We aim to supply what you need within ten working days. Call (0121) 303 3075 If you have hearing difficulties please call us via Typetalk 18001 0121 303 3075 or e-mail us at the address above. Plans contained within this document are based upon Ordnance Survey material with the permission of Ordnance Survey on behalf of the Controller of Her Majesty’s Stationery Office. © Crown Copyright. Unauthorised reproduction infringes Crown Copyright and may lead to prosecution or civil proceedings. Birmingham City Council. Licence number 100021326, 2016. Contents Introduction 2 Governance 4 Financial strategy 8 contents / birmingham city centre enterprise zone 2 Introduction The Birmingham City Centre Enterprise Zone was founded in in 2011 to encourage business growth, investment and the creation of jobs. It will provide uplift in business rate income which the Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP) can use to invest in further EZ projects and wider economic priorities. The original City Centre EZ Over its lifetime the Birmingham comprises 26 sites across the city City Centre EZ, including the centre, in seven clusters including Curzon extension, will have those identified in the Big City invested over £900m for capital Plan - the city’s strategic vision for infrastructure, delivered 2.3m sq.m the future of the City Centre - as of new floorspace, created over offering the greatest opportunities 76,000 new jobs, contributed nearly for growth. £4bn to the economy in GVA per annum and generated in excess of Investment totalling £275m is £2bn in additional business rates. planned for these sites up until March 2023, as set out in the EZ In order to manage the new Investment Plan (EZIP 2014). As extended EZ an updated financial part of this £275m, the EZIP also model and strategy is required, includes £50m for projects outside as well as a strong governance the city centre. framework by which the EZ and it’s investment decisions will In 2015 the government approved be managed. The governace an extension of the EZ to include framework sets out the structure the Curzon Masterplan Area. The and hierarchy of decisions that extension comprises 13 further sites will be required by the various across the Curzon/High Speed 2 boards governing investment and growth area. The extended EZ now decision making. The financial covers an area of 113.5ha and the strategy provides the parameters time period for the retention of by which the EZ will be financially business rate growth for the whole managed. It reflects both expected EZ has been extended to 31st business rates income (revenue) March 2046. A separate Investment and expenditure associated with Plan has been produced for the the delivery of the investment Curzon area which allocates programmes. The strategy is £556.8m of EZ resources to complemented by a set of financial maximising the economic impact principles which govern its of HS2 across the Curzon area. A management. further £183m of EZ resources are ringfenced for the East Birmingham North Solihull Midland Metro Extension. birmingham city centre enterprise zone / introduction 3 KEY EZ sites Curzon extension sites n NORTH The Birmingham City Centre Enterprise Zone introduction / birmingham city centre enterprise zone 4 Governance framework Purpose of the Governance The document is to be used by Specifically the Board will ensure Framework the GBSLEP and Birmingham City that: The first part of this document sets Council (BCC) when approving out the governance framework funding requests and monitoring • There is an approved Investment for the Greater Birmingham project progress. This includes Plan (2014) in place for the period and Solihull Local Enterprise consideration of any business rates up to 2022/2023 that will help Partnership (GBSLEP) in respect uplift and how investment of EZ unlock sites for development and of the Enterprise Zone (EZ).This funding is managed. enable the delivery of growth, governance regime will facilitate jobs and uplift in business rates. better decision making and assist in the effective use of and stewardship Roles and responsibilities • There is an approved Investment of finite resources. Plan for the Curzon area (2016) Greater Birmingham and Solihull in place for the period up to The document provides a Local Enterprise Partnership 2037/38 that will maximise the framework within which the (GBSLEP) Board economic impact of HS2, unlock GBSLEP approves and monitors The GBSLEP Board takes overall sites for development and enable the programme of projects, which responsibility for the delivery of the the delivery of growth, jobs and have been confirmed for funding EZ investment plans. It does this by uplift in business rates. allocation in the Enterprise Zone setting an overarching investment Investment Plan (EZIP) (2014) and strategy and ensuring that there the Curzon Investment Plan (EZCIP) are clear governance, management (2016). and delivery arrangements in place. Local Enterprise Partnership Strategic direction CLG EZ Executive Board BCC Cabinet Accountable body Curzon Delivery Board EZ Directors Board EZ Programme Manager, Delivery Team and support functions EZ Projects Figure 1 Entrerprise Zone Governance Structure birmingham city centre enterprise zone / governance framework 5 • It receives and considers regular The board meets every 6-8 weeks • Monitoring arrangements are reports (from the EZ Executive or by exception if required. in place that allow a review Board (EZ/EB) on the financial of performance of Delivery/ position and performance of the The EZEB has powers delegated Implementation Strategy Investment Plans. from the GBSLEP to approve including on both quantitative projects and will make decisions on and qualitative aspects of • It nominates a Board Member the priority order for the additional performance. to be the ‘EZ Champion’ for pipeline projects, allocated in the GBSLEP. The EZ Champion will 2014 EZIP and the 2016 Curzon • Key issues and risks are either keep the LEP Board informed of EZIP. The EZEB will oversee addressed or escalated to the progress on a regular basis and delivery and implementation of the LEP Board. will escalate any significant risks Investment Plans, the associated and issues related to the delivery Governance Strategy and EZ • It approves/rejects/makes of the Investment Plan(s) as project performance reporting. recommendations on applications recommended by the EZEB. for funding from the Enterprise The GBSLEP will be represented on Zone in accordance with the the EZEB by at least two nominated existing 2014 EZIP and the 2016 Birmingham City Council as the GBSLEP Board Directors with one Curzon IP. Accountable Body acting as Chair and ‘EZ Champion’. Management and redistribution of A further GBSLEP officer will also • A financial limit on the financial the business rate growth from the be represented on the Board. model for EZ funding purposes EZ requires a single statutory body These are voting roles with the is set. from the GBSLEP Partnership to chairperson having the casting take on the role of ‘Accountable vote. • Any decision made by EZEB in Body’. This Body must be a legal the knowledge that the decision entity, nominated to act on behalf BCC will be represented on does not compromise compliance of the GBSLEP for the receipt the EZEB by a maximum of 3 with BCC’s own Financial and investment of business rate senior officers who have overall Regulations and any financial growth and uplift within the EZ responsibility for the day to day decisions that BCC as the designation. Birmingham City delivery of the EZ Investment Plan. Accountable Body may require. Council (BCC) accepted this role These are voting roles. Variations to projects submitted in respect of the Birmingham for a funding request (for example City Centre EZ with BCC Cabinet The quorum for the meeting is 2 spend profile, amount awarded) approval on 30 July 2012. from GBSLEP and 1 from BCC. may be set out in the funding agreement or in the conditions of BCC as the Accountable Body is This representation of officers will any decision is given by the EZEB. obliged to manage any investments be added to from other LEP’s and and their financing. local authority partners based on a • Monitoring arrangements and commensurate basis to be agreed subsequent performance reports if investment in undertaken outside are adequate and appropriate, Enterprise Zone Executive Board of the City Centre EZ boundaries. considering both quantative and (EZEB) qualitative aspects of project The EZEB is made up of members Specifically the EZEB will oversee performance and programme and officers from GBSLEP and that: delivery. BCC. Both GBSLEP and BCC are decision makers, on the basis of • The Investment Strategy/Plans • Appropriate resources are strategic ownership (GBSLEP) and are delivered in accordance with available to manage the EZ and Accountable Body (BCC). It is an agreed milestones and targets. enable delivery of the Investment appropriately constituted decision Plans. making board for which evidence • Regular reports are received is provided through minutes, on the Governance Strategy quorum and declarations of interest including performance against to support its decision making the Financial Plan and key risks or procedures. issues with implementation. governance framework / birmingham city centre enterprise zone EZ Directors’ Board (EZDB) The quorum for the meeting is • Key issues and risks are either 6 A separate Directors’ Board has 3, in addition to the Chair. The managed or escalated to the been established in order to Chairperson will have the casting EZEB.
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