Project Details

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Results Chart for Delivery Method and Financing

Delivery Method

DBOM Partially Public Finance
# of Projects: 1
100% of the Results

Background informationProject Created: July 27, 2009

Project Name: Miles Platting Neighborhood PFI
Year in Operation: 2007
Sector: Buildings
Subsector: Other Government Building
Status: In Operation
Type: Substantial Alteration of Existing Facility
Description: The project includes the demolition of 30% of the properties in the poorest state of repair in the 264 residential area in Manchester as well as the refurbishment of the remaining units for public use.
Delivery Method as described in the country where it's located: Public Private Partnership
Is the project still active: Yes
Comments: PFI

Project Locations

Address:
City: Manchester
State:
Country: United Kingdom of Great Britain & Northern Ireland

Souces of Project Support (Non-monetary)

Checkbox Checked Access to Land: The land is owned by the local government of Manchester and the Crown government.
Checkbox Checked Revenue Stream (Cash Flow) Protected Through Long Term Commitment(s) of Public Sponsor(s): The private sector entity will operate and maintain the housing complex for a concession period of 30 years.

Souces of Project Support (Monetary)

Checkbox Checked

From Public (Government) Sources to Producers: The project is financed by the Crown government. Under the Housing Revenue Account (HRA) adopted in 1999, the local authority retains ownership of the stock and a consortium of private sector firms raise the capital to refurbish the homes and provide operations and maintenance. The private sector is paid in return under a performance-based unitary charge, only when the agreed standards are met.

Project Delivery & Finance Method

Project Delivery:
All Public Finance. Public Sponsor contracts for initial design, and separately contracts for initial construction. Public Owner operates and maintains the resulting facility.
Is there an independant checking engineer? Yes
Project Finance Method: All or Partially By Public Sponsor

Procurement Approach

Project Component
Qualifications
Based Selection
Request for
Qualifications
Request for
Proposals
Invitation
for Bids
Unsolicited
Proposals

Term for Key Components & Forms of Contract

Project Component
Years
Quarters
Combined Term: Initial Design, Construction, O&M Period
30
0
Forms
Description
Other
PUK Housing Model Contract, HRA scheme 

Project Value (If and As Known)

Date of Estimated Project Value: March 22, 2007
Project Value
Hard Cost
Hard & Soft Costs
Construction
$100-250 Million US
(none)

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