Archived decisions

Decision Maker:

Executive Member - Policy and Resources

Date of Decision:

16 October 2008

Decision Title:

Waste Management Infrastructure - Consideration of Financing through Prudential Borrowing
(Summary of Exempt Decision)

Decision Reference:

234

Report From:

Director of Environment and County Treasurer

Contact name:

Colin Hudman

Tel:

023 8038 3304

Email:

[email protected]

1) Summary

The following decision was made:

1.1. That Hampshire County Council makes use of Prudential Borrowing to finance the cost of the architectural enhancement pass through costs at Chineham, Marchwood and Portsmouth Energy Recovery Facilities, subject to approval of the settlement relating to the Marchwood facility and to final agreement on terms for a lump sum payment being agreed with Veolia Environmental Services, Hampshire.

1.2. That a report be brought to the Executive Member for Policy and Resources if it is proposed to proceed with the prudential borrowing option.

2) Reasons for the decision

2.1. Hampshire County Council has an outstanding contractual liability to pay the long term waste disposal contractor Veolia Environmental Services Hampshire. This represents the County Council's share of the costs relating to architectural enhancements at the Energy Recovery Facilities built under the long term waste disposal contract.

2.2. A decision is required as to whether the debt should be repaid as an adjustment to the contract annual fixed fee or a single lump sum payment in 2008/09.

2.3. The Executive Member for Environment supports the proposal to clear the liability by a single lump sum payment in 2008/09.

3) Other options considered and rejected:

3.1. Option 1: Repay the pass through costs debt through an adjustment to the annual fixed fee.

a) Risk Assessment: The County Council pays its share of the pass through costs through an adjustment to the annual fixed fee derived from the formula in the long term waste disposal contract.

4) Conflicts of Interest:

4.1. Conflicts of interest declared by the decision-maker:

None

4.2. Conflicts of interest declared by other Executive Members consulted:

None

5) Dispensation granted by the Standards Committee:

None

6) Any reasons for the matter being dealt with if urgent :

None

7) Statement from the Decision Maker:

Approved by:

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Date:

16 October 2008

Executive Member - Policy and Resources

Councillor T K Thornber, CBE