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
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Funding Strategic Infrastructure
securing a sustainable and prosperous Hampshire
Stuart Jarvis,Director Economy, Transport and
Environment 18th July 2011
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Strategic Infrastructure
1. Background 2. Challenges 3. New funding
mechanisms 4. Hampshire
opportunities- Senate backed local solutions
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Background
• Historic Funding Model in Hampshire and the South East
• Developer Funding• Government Funding• Privatised Utility Company
Investment• Council Funding
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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
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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)
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Utilities Investment
• Regulators Role and Remit• Short Term Investment Planning• Role of the Quangos• Environmentalism and
Sustainability
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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
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Challenges •Size of the Task
•Hampshire Infrastructure Review 2009 (amended 2011)
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Challenges Cont…
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Future funding mechanisms
• Regional Growth Fund• New Homes Bonus• Community Infrastructure Levy
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Additional funding options
Review the use of local government finance:
Consider asset backed Hampshire bonds
Maximise funding streams / mixed portfolio
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Delivery mechanisms
• Joint Strategic Infrastructure Plans• Pooling of resources / capitalising
funds• Economies in procurement • Political leadership
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Conclusions
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Questions