Minutes:
The Committee was reminded that the Council, as part of its Investment Programme, had identified a number of key projects to support economic growth within the City. Included within those projects was a proposal to deliver a “Digital Hub” to support growth and generate employment within the digital industries sector. At its meeting on 26th June, 2012, the Development Committee had agreed to commission a feasibility study to scope out the need and demand for a digital hub in Belfast and to consider the type of development that would meet the requirements of the sector as well as the preferred location for such a development. Ekos Consulting had been appointed to carry out that work in September, 2012 and had completed their report in January, 2013. Ekos had engaged directly with relevant businesses, as well as a range of stakeholders, including Invest NI, the Department for Culture, Arts and Leisure, Momentum (the trade body for the IT sector) and the universities and colleges. Having established and confirmed the need and demand for a development of this nature, they had considered the relevant services and infrastructural requirements and also assessed the relative merits of a range of potential locations, including the Cathedral Quarter, Crumlin Road Gaol, the Northern Ireland Science Park, the Gasworks Business Park, Springvale and Weaver’s Court.
The Director of Development reported that the outcome of the feasibility study had been presented in a report to the Strategic Policy and Resources Committee at its meeting on 22nd February. The report had confirmed the viability of the proposed scheme and noted that the Cathedral Quarter was the preferred location, as referenced by the various stakeholders and businesses consulted. On the basis of the feasibility study, Members were asked to agree to the development of a business case and a funding application to Invest NI for the creation of a Digital Hub in the Cathedral Quarter. Following discussion on the report, the Committee had requested that additional information on the relative assessments of all the location options be presented through party briefings and those had taken place during March and early April.
In the interim, officers had been in contact with Invest NI to clarify the implications for the potential funding availability for the scheme, given that the original submission deadline had been 28th February, 2013. Invest NI staff had confirmed that they would be willing to consider an application if it was submitted by the end of April, 2013. However, they felt that an application submitted after that point was unlikely to be considered, given the time required to progress and process the application and the need to have a letter of offer in place by the end of 2013. Given also that 75% of the funding for the scheme would come from Invest NI, that decision was critical to the financial feasibility of the scheme. Accordingly, the Director submitted a report which recapped on some of the issues discussed at the party briefings and which sought a decision from the Committee as to how it wished to proceed with the project, given the urgency of the impending funding deadline. The report assessed the relevant merits of a range of locations, as previously outlined, and a brief summary of the assessment of each was provided for the information of the Members.
The Director reported further that, at this stage, an indicative financial commitment of £4 million had been set aside for the scheme. If the scheme met the funder requirements, funding of up to £3 million would be able to be drawn down from the European Regional Development Fund (£2 million) and Invest NI (£1 million). The Council would be expected to provide match funding of £1 million. That would cover both capital and revenue costs associated with the development up to December, 2015. Any funding requirements beyond that date would have to be subject to additional funding applications.
After discussion, the Committee noted the information which had been provided and approved the submission of a funding application to Invest NI to draw down support for a creative hub, to be located in the vicinity of the Cathedral Quarter/Inner North (the precise location to be determined).
Supporting documents: