Medway LIFT (Local Improvement Finance Trust) - selection of preferred bidder
Decision:
The Cabinet agreed the preferred partner for
Medway LIFT Co, as referred to in the exempt addendum report, with
whom further negotiations will be conducted.
The Cabinet agreed that the Portfolio Holder for Health and
Community and the Director of Health and Community Services
continue to represent the interests of the Council on the LIFT
Shadow Board.
The Cabinet agreed that officers enter into discussions and
negotiations with other public sector partners from the perspective
of the Council remaining a key stakeholder, being an active
participant in the Strategic Partnering Board and supporting the
development of the annual Strategic Service Delivery Plan for LIFT
Co.
The Cabinet agreed to reserve judgement on the issues of
exclusivity pending further clarification of the issues and the
evaluation of the implications of granting or not granting any
exclusivity to Medway LIFT Co.
The Cabinet agreed that the Council's legal and financial officers
evaluate the costs, benefits and other implications of Medway
Council taking a shareholding in Medway LIFT Co.
The Cabinet agreed that the contract rules be waived in accordance
with Contract Rule 2(b)(i) to permit Nabarro Nathanson to be
retained should further legal support be required - subject to fees
not exceeding the upper limit.