Contact: Trevor Wallis, tel 023 9244 6510 email: [email protected]

1. Summary

1.1 The following decisions are sought:

(i) That the Cabinet approves the procurement budget of £1.1 million.

(ii) That the Cabinet approves the full commitment of existing budgets of £5.57 million per annum at 2007/08 prices for the duration of the contract term.

(iii) That the Cabinet approves the funding of the base case maintenance affordability gap of up to £600,000 per annum at 2007/08 prices for the duration of the project term and also notes a possible increased energy consumption of up to 15 million kilowatt hours amounting to approximately £1.2 million per annum at current prices, which would need to be contained within the overall operational budgets of the Environment Department. The base case assumes that the project will be off-Balance Sheet under Financial Reporting Standard 5.

(iv) That the Cabinet notes the intention of the Department of Communities and Local Government to introduce Regulations to ensure that in the event that Private Finance Initiative schemes become on-Balance Sheet transactions that it has no effect on the charge to the revenue account.

2. Reason

2.1 Securing Government funding for the street lighting project will address a backlog of maintenance and provide new investment that will improve lighting standards and make a significant contribution to reducing road accidents, crime and fear of crime.

3. Other Options Considered and Rejected

3.1 Not to address a request from the Department for Transport for a full and unambiguous commitment to the affordability ramifications of the proposed street lighting private finance initiative.

4. Conflicts of Interest Declared by the Decision Maker or Other Executive Member Consulted - None.

5. Dispensation granted by the Standards Committee - None.

6. Reason(s) for the Matter being dealt with if Urgent - None.

Approved by: ..................................... Date: ...................................

Councillor T K Thornber CBE - Chairman

1518Decn/TW