Page 272 - Minutes of meeting

Appendix B - Prioritisation Framework for the Barrow Town Investment Plan

1. Proposed Prioritisation Framework

Purpose of this Note

1.1 In the coming weeks a series of project proposals will be assembled for possible inclusion
in the Barrow Town Investment Plan.

1.2 The Board will need to make transparent choices on the suite of projects it wishes to include
as priorities for investment.

1.3 The next few months are a crucial period for you to develop strong project proposals and
delivery capacity to move ahead at pace. MHCLG will assess your Town Investment Plan
and, if successful, Barrow will secure a Heads of Terms Town Deal which includes an
allocated budget and identified projects which you can proceed with, and key conditions to
take this forward.
1.4 After securing a Head of Terms you will need to develop the agreed projects through Full
Business Cases and set in place delivery arrangements.
1.5 In summary, you need good quality project proposals at the heart of the Investment Plan
to ensure you get issued with a Heads of Terms quickly.

Prioritisation Steps

1.6 We set out below suggested steps in the prioritisation of projects, with suggested timelines
for each step:

th
1) Continue Expanding the Long List – complete by 24 April
th
2) Collate Project Concept Forms for Review – complete by 24 April
st
3) Clarification queries with project lead - complete by 1 May
th
4) Assessment against agreed set of Critical Success Factors - complete by 8 May
th
5) Sensitivity Testing against weighted factors - complete by 8 May
6) Prioritisation Recommendations / Decisions - complete by 15 May.
th
Critical Success Factors

1.7 The Town Plan Development Group discussed the draft Critical Success Factors (CSF)
against which the success of the Town Investment Plan will be judged, and additional
suggestions were considered. The revised list of 7 CSFs is as follows:
• Fit with the 10 Strategic Objectives [see Appendix A]

• The degree of transformative impact
• Clear evidence of clear market failure/market need

• Extent to which it delivers higher productivity
• Extent to which it secures inclusive growth

• Deliverability within TIP time frame (April 2021-March 2026)
• Financial sustainability beyond the Stronger Towns Fund investment

Private and confidential
1