Decision details

To engage PICT Consulting Limited (Paul Carten) on a short-term contract to support the Cyber Central Programme Golden Valley Project on the following: 

Be the lead financial adviser for the Authority on behalf of the Section 151 Officer in respect of the following projects:

-           Cyber Central (also known as West Cheltenham / Golden Valley)

-           Workshop Cheltenham

The role will include :

-           Assisting with reviewing and establishment of potential financial structures and commercial returns expected from the projects (including but not limited to matters such as consideration, lease arrangements, profit share, investments in housing, NNDR, Council Tax)

-           Assisting with public procurements including drafting and evaluating the financial submission of each tender and assisting with the financial content of the legal documentation where appropriate.

-           Lead the financial sessions of dialogue meetings (should the Authority utilise any procurement route which permits such meetings)

-           Conducting appropriate due diligence

The full value of the contract is capped at £70k (already approved).  The work undertaken is of a specialist nature and is to be funded from the Golden Valley Project budget (PLP105) approved by Council on 16th November 2020.

Paul Carten has a track record of assisting with schemes of this value in London and Birmingham and given the urgency required there are no alternative options to this course of action in successfully delivering this work stream on time.

N/A

This decision was taken in consultation with Cabinet Member for Finance, the Chief Executive and the MD Place and Growth.