Page 116 - Barrow Town Deal Board Agenda 14/4/2020

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Based on these, also at the April 17 Board a prioritisation framework, against
which the long listed schemes could be tested, was also discussed. In testing
the long list it was agreed that four weighting scenarios would be used:

1. All Success Factors weighted evenly;
2. Most weight be given to the fit with the 10 Strategic Objectives;
3. Most weight be given to the degree of transformative impact; and
4. Most weight be given to the extent to which inclusive growth is
secured.

The outputs of this work are set out within the Prioritisation Assessment
Report at Appendix A to this report. Within this, a summary assessment of
each scheme is provided alongside a ranked assessment of their fit with the
prioritisation framework.

To meet a July submission target it is important to agree a project short list
and the Town Deal Board are requested to consider the composition of this.
In doing this, it is advised that:

 Significant weight is given to the outputs of the Prioritisation
Assessment Report;
 That there is a need for a short list to slightly exceed the £25m funding
cap to build in resilience and opportunities to achieve efficiencies;
 Consideration be given to how schemes may be amalgamated and
scaled; and
 Thought be given to whether there is scope for a proposal to be
realistically funded through alternative means.

Once the short listed schemes are confirmed, it is intended that Strategic
Outline Business Cases would be developed in order to ensure deliverability
and outputs and with that, robustness of the investment plan. It is intended
that options for the resourcing of Business Case development would be
considered through the Plan Development Group and scheme leads. Those
projects not short listed would be encouraged to continue developing the
scheme and the Town Investment Plan will seek to map alternative sources of
funding. A focus will be on ensuring all schemes have a place in the Town
Investment Plan.

End.

Appendix A – Prioritisation Assessment Report