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PFI Street Lighting & Traffic Signal Project Update. Why PFI? – Blackpool’s issues. Blackpool’s Issues - Infrastructure. Over 70% of street lights are “life expired” Only 14% of back streets are lit Over 44% of traffic signal sites require ‘urgent’ replacement / upgrading. PFI Scope.
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Blackpool’s Issues - Infrastructure • Over 70% of street lights are “life expired” • Only 14% of back streets are lit • Over 44% of traffic signal sites require ‘urgent’ replacement / upgrading
PFI Scope • Street lighting columns • Adopted back streets • Illuminated signs and bollards • Traffic signals
PFI Scope • * Programming is based upon asset condition • Worst condition first • Alignment of lighting columns/traffic signal junctions
Procurement Process to Date • Three interested bidders submitted detailed solutions – May ’08 • Refined solutions submitted – Aug ’08 • Two bidders will be invited to submit final tenders • CLP (Community Lighting Partnership) • TVL (Tay Valley Lighting) • De-selected bidder - NLP
Credit Crunch Impact • Banks reluctant to lend in current economic climate • Financing terms are changing daily • Increasing costs of raw materials / energy / supplies • Regular monitoring • Sensitivity Analysis
Contract Monitoring • PFI Contract Manager Appointed – September ’08 • Co-location with PFI Service Provider • Self-monitoring contract • Performance Standards – Output Specification • Incentives / Penalties - Payment Mechanism • Milestones • Independent Certifier • Monthly monitoring meetings • PFI Strategic Board
Typical Residential Street – Prior to PFI Typical Residential Street – Post PFI Pre-Post PFI Lighting
Devonshire Road Lighting Devonshire Road – Recent Scheme
Traffic Signals Insert photo
What next? • Appointment of Preferred Bidder by Executive • Stakeholder Consultation • Future presentations to O & S