Decision details
Sale Waterside PFI
PDF 89 KBDecision Maker: Executive Member for Finance and Governance
Decision status: Recommendations Approved
Is Key decision?: No
Is subject to call in?: Yes
Decision:
1. That the changes to the PFI scheme as detailed in the report be agreed.
2. That authority be delegated to the Corporate Director of Governance and Community Strategy, in consultation with the Corporate Director for Finance and Systems, to agree any documentation necessary to implement the proposed agreement and to enter into and complete such documentation.
Reasons for the decision:
To provide for approval on behalf of the Council of the terms of an updated variation to the PFI Agreement with the PFI provider and its financiers, following a review of the contract which will provide overall savings to the Council over the remaining term of the PFI Agreement.
Alternative options considered:
During the review a number of other options were considered including the potential to terminate the contract either through default or voluntary termination. Detailed discussion of these rejected options is set out at para. 15 of the report.
Publication date: 22/04/2020
Date of decision: 09/04/2020
Effective from: 30/04/2020
