Decision details

The Deputy Chief Executive submitted a report giving an update on progress towards financial close of the BSF programme.

RESOLVED –

(a)  That the contents of the report and progress towards Financial Close be noted together with the decision of the Chair of the Education PFI/ BSF Projects Board to enter into an Early Works Agreement with Interserve Project Services Limited on behalf of the E4L Consortium

(b)  That a revised PFI affordability threshold of £13,148,000 be approved, being the first full year Unitary Charge in 2010/11 to protect the programme against further adverse upward movement in interest rates

(c)  That approval be given to the incurring of additional capital expenditure above the current Capital Programme provision of £30,934,000 amounting to £947,192 on Cockburn and Temple Moor High Schools

(This decision was exempt from Call In by reasons of urgency as detailed in paragraphs 2.1 and 2.2 of the report)