Decision details

A report to seek approval for funding to ensure that the soft market testing exercise for the City Leap project is fully capitalised upon. This funding will maintain the existing project team and engage specialist financial and legal advice to support the development of a viable and robust options appraisal for final recommendations for Cabinet to consider at a later date.

That Cabinet:

1.             Authorised the continuation of the project team in its current form until 31 March 2019.

2.             Authorised specialist advice, (legal and financial) being sought to supply the advice required to develop a robust options appraisal and recommendation(s) for consideration at Cabinet (targeted for March 2019).

3.             Delegated to the Head of Legal Services, in consultation with the Service Director responsible for Energy and the Cabinet member with Responsibility for Energy Waste and Regulatory Services, the decision as to where the specialist advice will be sought from, i.e. Option 1, 2 or 3 as outlined in Table 1.

4.       Noted that it is likely that the next Cabinet report (targeted for March 2019) would contain the options appraisal to be developed with specialist advice, the associated recommendation(s), funding for the project team and further legal and financial advice in order to support and facilitate contractual negotiations and set up for the City Leap solution.