funding strategic infrastructure securing a sustainable and prosperous hampshire
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Funding Strategic Infrastructure securing a sustainable and prosperous Hampshire. Stuart Jarvis, Director Economy, Transport and Environment 18 th July 2011. Strategic Infrastructure. Background Challenges New funding mechanisms Hampshire opportunities - PowerPoint PPT PresentationTRANSCRIPT
Funding Strategic Infrastructure
securing a sustainable and prosperous Hampshire
Stuart Jarvis,Director Economy, Transport and
Environment 18th July 2011
Strategic Infrastructure
1. Background 2. Challenges 3. New funding
mechanisms 4. Hampshire
opportunities- Senate backed local solutions
Background
• Historic Funding Model in Hampshire and the South East
• Developer Funding• Government Funding• Privatised Utility Company
Investment• Council Funding
Developer Contributions2005/6 – 2010/11
• Section 106 secured £150M for key infrastructure
• HCC Transport Tariff and School contributions formula
• Affordable Housing• No comprehensive system in place • Restriction of S106 for Off Site Works• Community Infrastructure Levy
Government Funding
• Scaled back PFI • Reduced national infrastructure spending and
focus on marquee projects (e.g. HS2)• Competitive Funding Mechanisms• Disaggregation of funding streams and
Priorities• Complexity and Cost of Bidding • Direct Government Capital Spending (e.g.
Schools)
Utilities Investment
• Regulators Role and Remit• Short Term Investment Planning• Role of the Quangos• Environmentalism and
Sustainability
Council Funding• Reduced Government Funding and
‘Council Tax Freeze’• Scaling back Capital grants and PFI
e.g. LTP Integrated Transport Funding LTP2 2006/7 £13.3 million LTP 3 2011/12 £6.5 million• Struggle to fund bids and find match
funds• Local Govt Funding Review
Challenges •Size of the Task
•Hampshire Infrastructure Review 2009 (amended 2011)
Challenges Cont…
Future funding mechanisms
• Regional Growth Fund• New Homes Bonus• Community Infrastructure Levy
Additional funding options
Review the use of local government finance:
Consider asset backed Hampshire bonds
Maximise funding streams / mixed portfolio
Delivery mechanisms
• Joint Strategic Infrastructure Plans• Pooling of resources / capitalising
funds• Economies in procurement • Political leadership
Conclusions
Questions