Decision details

Proposed decision:

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.

As Cabinet Member for Environment, I agree to:

1.         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).

2.         For the Corporate Director of Growth, Environment and Transport in consultation with the Director of Infrastructure and the Corporate Director of Finance, to transfer the necessary PSDS funding to Commercial Services Kent Limited for the purchase of the SPV, subject to:

-           the terms and conditions of the PSDS grant being met;

-           the technical, legal, and due diligence conclusions being acceptable to KCC; 

-           and that the remaining funding for the project can be secured;

3.         Delegate authority to the Corporate Director of Growth, Environment and Transport to take relevant actions, including, but not limited to, entering into contract and other legal agreements as required to arrange and deliver this project.