Councillor Evans (Council Leader) presented the proposals to finalise the Land Transfer Agreement to transfer areas of HM Naval Base South Yard from the Ministry of Defence to Plymouth City Council as part of the Plymouth and South West Peninsula City Deal which would benefit Devonport, Plymouth and the Peninsula. (Cabinet minute 102 together with the Cabinet report was also submitted).

The proposal was seconded by Councillor Kate Taylor who reported that the City Deal would deliver thousands of jobs and improve the local economy in Devonport.   

The Council paid tribute to Anthony Payne (Strategic Director for Place), David Draffan (Assistant Director for Economic Development) and the Economic Development Team.

Agreed to accept the funding offered as part of the City Deal Agreement (dated 31 January 2014) towards the creation of a South Yard Marine Industries Production Campus ie: Department for Communities and Local Government grant of £8m, a £5m loan from the Local Enterprise Partnership (Growing Places) and a loan of up to £1m from the Ministry of Defence.

(Councillor Storer having declared an interest in this item, withdrew from the meeting during consideration of this item).