Edition 6 |
SEPTEMBER/OCTOBER 1999 |
In September 1996 Falkirk Council set out to investigate the potential of a public /private partnership to help address the structural and accommodation problems affecting a number of its secondary schools and one special school.
A dedicated team was established in October 1996 to take the project forward, submitting an outline business case (OBC) to elected members and The Scottish Office in December 1996.
Following advertisement in the Official Journal of the European Community (OJEC) in April 1997, 3 consortia were invited to Tender by October of that year. The consortium, Class 98 Ltd (comprising Ballast Wiltshier, Charterhouse and Quayle Munro) was chosen as preferred bidder in December.
At contract signature, Falkirk Schools project was the largest education PFI project launched in the UK and is considered a pathfinder for other similar projects. It also represents the first example in PFI of bundling schemes together. and so sets a precedent for the future of education-related PFI schemes.
The scheme reached financial close in August 1998 and includes the following:-
As it is a multi-site project, the contract structure allows for severability should one or more sites fail to go ahead to plan, with consequent adjustment of tariffs and financing agreements.