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Funding Strategic Infrastructure securing a sustainable and prosperous Hampshire

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

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Funding Strategic Infrastructure securing a sustainable and prosperous Hampshire

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  1. Funding Strategic Infrastructuresecuring a sustainable and prosperous Hampshire Stuart Jarvis,Director Economy, Transport and Environment 18th July 2011

  2. Strategic Infrastructure • Background • Challenges • New funding mechanisms • Hampshire opportunities - Senate backed local solutions

  3. Background • Historic Funding Model in Hampshire and the South East • Developer Funding • Government Funding • Privatised Utility Company Investment • Council Funding

  4. 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

  5. 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)

  6. Utilities Investment • Regulators Role and Remit • Short Term Investment Planning • Role of the Quangos • Environmentalism and Sustainability

  7. 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

  8. Challenges • Size of the Task • Hampshire Infrastructure Review 2009 (amended 2011)

  9. Challenges Cont…

  10. Future funding mechanisms • Regional Growth Fund • New Homes Bonus • Community Infrastructure Levy

  11. Additional funding options Review the use of local government finance: Consider asset backed Hampshire bonds Maximise funding streams / mixed portfolio

  12. Delivery mechanisms • Joint Strategic Infrastructure Plans • Pooling of resources / capitalising funds • Economies in procurement • Political leadership

  13. Conclusions

  14. Questions

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