Growth Deal chiefs should “horizon scan” for potential new projects in North Wales over concerns policy changes could stop some existing schemes move forward.
The North Wales Economic Ambition Board has 14 “transformational” projects for the region under the Growth Deal - backed by £240m in funding from Welsh and 海角视频 Governments.
These range from digital connectivity to tidal energy schemes as well as unlocking land and property developments like Parc Bryn Cegin in Bangor.
But a Programme Assessment Review has recommended that alternative projects are also looked at in the event some of those on the current list become unviable.
It cites the Bodelwyddan Strategic Site as one of the developments potentially at risk from policy changes.
The £82m commercial and residential scheme is currently earmarked £10m under Growth Deal proposals with the money used to provide the primary services to enable the site to be bought to the market for development.
The assessment said: “The RT (review team) is concerned about the potential impact of any policy
changes on the viability of the some of the projects (such as Bodelwyddan).
“We recommend that the Portfolio leadership institutes a regime of horizon scanning to identify potential new projects should any of the current ones become unviable and to give early consideration to any changes that will be required to existing projects.
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“Criteria should be developed by which a project will be deemed to be no longer viable.”
The report is positive overall about the progress made by the Board but did say the approach to attracting “crucial” private sector interest appears to be “piecemeal and uncoordinated”.
They added: “We note that the Portfolio Director and Operations Manager have been active in talking to potential investors but the extent of commitment arising from these discussions is not yet evident.
“We recommend that a Portfolio level strategy for attracting and securing private and other sector investment is developed and adopted.”
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An Ambition Board spokeswoman said: “The Gateway Reviews are a key part of the assurance framework for the Growth Deal, providing an independent review of progress made within the projects.
“The North Wales Economic Ambition Board is pleased with the outcome of the latest review, recognising the progress made over the last 12 months.
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“The recommendations are welcomed and reflect areas the Ambition Board is already working on, which includes being aware of other potential projects in the region which could potentially receive support in the future either through the Growth Deal or other funding sources."
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