Issue - meetings
Gateway 3 Contract Award: Social Impact Bond
Meeting: 05/04/2016 - Cabinet (Item 11)
11 Gateway 3 Contract Award: Social Impact Bond 
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Minutes:
Background:
This report provided details of the contract award for the provision of the Social Impact Bond. The scope of the contract would include Family Functional Therapy (FFT) interventions to both prevent children going into care and support children to return home where it was safe to do so, ready investment, performance management and reporting and outcome and payment metrics.
The report noted that there was only one supplier in the market which could deliver the contract, Evidence Based Social Investments (EBSI) Ltd.
The report was considered by the Procurement Board on 16 March 2016, as set out in section 5 of the report.
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Decision number: |
Decision: |
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65/2016 |
The Cabinet agreed to delegate authority to the Chief Legal Officer, in consultation with the Portfolio Holder for Children’s Services, to publish a VEAT notice setting out the Council’s intention to directly award a contract to Evidence Based Social Investments Ltd (EBSI) for the provision of the Social Impact Bond and to consider and determine any objections which may arise from the publication of the notice and following this process to award a contract for the provision of the Social Impact Bond to Evidence Based Social Investments Ltd (EBSI). |
Reasons:
EBSI is the only provider to have secured funding for the Council from the Cabinet Office to part fund the Social Impact Bond, and as such the market the Council could use was reduced to a single supplier.