Issue - meetings
Capital Contribution to West London Waste Authority
Meeting: 15/07/2013 - Executive (Item 15)
15 Capital Contribution to West London Waste Authority 
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In April 2013 the West London Waste Authority (WLWA) agreed to award preferred bidder status to a consortium of companies for construction of a waste treatment facility and the subsequent treatment of residual waste, following a procurement exercise. There is an opportunity for the constituent boroughs of WLWA to make a capital contribution towards the construction cost of the facility being built, in return for an annual interest payment from the WLWA.
Additional documents:
- cent-wlwa-capital-app-restricted , View reasons restricted (15/2)
Decision:
(i) that agreement in principle be given to a capital contribution of up to £15million, provided that a sufficient number of the other WLWA constituent boroughs agree to contribute as well (since the decision to proceed with the investment is dependent on support from others in order to reach a required level of investment);
(ii) that authority be delegated to the Deputy Director of Finance, after consultation with the Director of Legal and Procurement and the Deputy Leader of the Council to agree the final amount and terms of the loan;
(iii) that a progress report be submitted in due course.
Minutes:
In April 2013 the West London Waste Authority (WLWA) agreed to award preferred bidder status to a consortium of companies for construction of a waste treatment facility and the subsequent treatment of residual waste, following a procurement exercise. There was an opportunity for the constituent boroughs of WLWA to make a capital contribution towards the construction cost of the facility being built, in return for an annual interest payment from the WLWA. Councillor R Moher (Lead Member, Resources) referred to the possibility of achieving significant savings and that at present approval in principle was being sought.
The Executive also had before them an appendix to the report which was not for publication as it contained the following category of exempt information specified in Schedule 12 A of the Local Government Access to Information Act 1972, namely: “Information relating to the financial or business affairs of any particular person (including the authority)”.
Councillor Lorber (Leader of the Opposition) raised questions on the terms of the loan and considered that the there was insufficient information available to make a decision at this stage. Mick Bowden (Deputy Director of Finance) advised that negotiations were still on going and repayment terms being considered. The position would become clearer once the number of boroughs involved was confirmed.
The Executive agreed to receive a progress report once the terms of the loan facility were agreed.
RESOLVED:
(i) that agreement in principle be given to a capital contribution of up to £15million, provided that a sufficient number of the other WLWA constituent boroughs agree to contribute as well (since the decision to proceed with the investment is dependent on support from others in order to reach a required level of investment);
(ii) that authority be delegated to the Deputy Director of Finance, after consultation with the Director of Legal and Procurement and the Deputy Leader of the Council to agree the final amount and terms of the loan;
(iii) that a progress report be submitted in due course.