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1.   
Noted that subject to meeting certain conditions (see paragraph
3.3) the Government is looking to integrate a
number of existing LEP functions into UTLAs.

2.   
Noted that to meet the conditions, and to maintain a focus on the
Solent area, Portsmouth City Council (PCC) will need to work with
Southampton City Council and the Isle of Wight Council to take on
these functions through the creation of a new joint UTLA Board.

3.   
Agreed that, subject to the three Solent UTLA area being recognised
by the Government as an area for LEP integration, with appropriate
due diligence, PCC should become a Member of Solent Partners (SP),
a company limited by guarantee, that is a successor body to the
Solent LEP, to help drive economic growth in the
sub-region.  This agreement to be
conditional on Isle of Wight Council and Southampton City similarly
agreeing to become Members of Solent Partners.

4.   
Agreed that PCC should not appoint a Director to the Board of
Solent Partners to ensure that there is no conflict of interest
with the wider governance needed for the new LEP integration
arrangements.  PCC will seek appropriate
requirements, within the articles of Solent Partners, to ensure
representatives of the three Solent ULTAs are entitled to observe
board meetings.

5.   
Noted the proposed draft governance structure attached as Appendix
1 that shows how PCC should work with partners to achieve our
economic growth ambitions which will need to be outlined in an
updated Solent 2050 Strategy.

6.      
Agreed that subject to the agreement of SCC and
IOWC, PCC is confirmed as the Accountable Body for Solent
Partners. 

7.   
Agreed that PCC, as the accountable body, agrees that any existing
LEP funding, disaggregated to the three Solent UTLAs can be pooled
(subject to the agreement of Isle of Wight Council and Southampton
City Council), for the benefit of economic growth of the
region.

8.   
Agreed that PCC, as one of the three UTLAs, will work with partners
to develop an agreement on how Solent Partners will deliver
economic growth for the functional economic area.

9.   
Agreed that delegated authority be
jointly given to the Leader of the Council and the Chief Executive,
in consultation with the Director of Finance and S151 officer, to
agree the final details of the transfer of LEP functions to the
UTLAs including future governance arrangements.

10.Agreed that PCC
should seek to support the creation of a Solent Economic
Partnership, inviting adjacent Districts and Boroughs, Hampshire
County Council, and other key public sector stakeholders, to enable
Local Authorities leaders and leaders within the business community
to have a regular opportunity to discuss and support economic
growth in the region.

11.Noted the intention
to agree disaggregation of assets held by the LEP to the
Accountable Body on behalf of the Upper Tier Local Authorities
(subject to the agreement of the three Solent unitary UTLAs).