KCC to support the purchase, by Commercial Services Kent Limited, of the Special Purpose Vehicle (SPV), via the deployment of £14.415M of Public Sector Decarbonisation Scheme (PSDS) Funding (see decision 21/00034 for further details on PSDS Funding), subject to the relevant financial and legal arrangements being agreed via the s151 Officer and KCC Legal.
Decision type: Key
Decision status: Recommendations Approved
Notice of proposed decision first published: 21/03/2022
This decision will be taken under urgency procedures.
Reason for urgency:
Implemention via the completion of relevant legal agreements and financial transfers is required before April 2022. Urgency processes allowing for immediate implementation upon the decision being taken is therefore required.
Anticipated restriction: Part exempt - View reasons
Explanation of anticipated restriction:
Exempt appendix contains comemrcially sensitive information relating the proposal, with supporting legal advice.
Decision due: 28 Apr 2022 by Cabinet Member for Environment
Reason: To allow for the entering into required legal agreements prior to the April deadline.
Lead member: Cabinet Member for Environment
Lead director: Simon Jones
Contact: Jonathan White, Southborough Project Manager Email: email@example.com Tel: 01622 696904.
For consideration by the Environment & Transport Cabinet Committee on 17 March 2022
Financial implications: Salix Grant funding provides £14.415m toward the overall project cost. CSKL will support KCC in providing the remaining funding required. The project is expected to deliver a significant financial benefit to KCC over the lifetime of the asset.
Legal implications: Relevant Heads of Terms and other legal agreements to be arranged to ensure appropriate mechanisms to deliver compliance with the Salix Grant funding arrangements. The SPV will sit with CSKL which is a wholly KCC owned Teckal company - It will operate as a standalone SPV, financial, energy and carbon performance will be reported quarterly via CSKL to KCC.
Equalities implications: N/A