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Capital Bids: What to include in an in principle application

Capital Bids: What to include in an in principle application. David Johnson, LSC Regional Property Adviser. EDUCATION. PROPERTY. FINANCE. What does the LSC require in a bid?. - LLSC: - Education & Finance & Regional Capital Strategy - NLSC: - Property & Finance. What are the first steps?.

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Capital Bids: What to include in an in principle application

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  1. Capital Bids:What to include in an in principle application David Johnson, LSC Regional Property Adviser

  2. EDUCATION PROPERTY FINANCE What does the LSC require in a bid? - LLSC: - Education & Finance & Regional Capital Strategy - NLSC: - Property & Finance

  3. What are the first steps? • agree Education case with Local and Regional LSC. • agree physical estate requirements needed to deliver the agreed curriculum with Regional Property Adviser – Property Strategy • engage with LSC Regional Finance Team – Funding Strategy

  4. Agreement of Property Strategy • Demonstrate that all sensible options have been considered. • Demonstrate that the preferred option delivers the best solution • Demonstrate that the preferred option is deliverable – Feasibility Study • Be backed up by appropriate evidence

  5. Education Case Criteria • Bid needs to demonstrate what the educational benefits of the scheme are: • facilitating growth if appropriate • enhanced curriculum • enabling the college to address ambitions • should include college development plan

  6. Finance Case Criteria • Financial analysis needs to demonstrate that the bid delivers the best NPV. • Finance case normally needs to identify running cost savings – both buildings and staffing costs • The financial analysis for the alternative and base case options needs to be robust • Financial Plan needs to demonstrate that the project is affordable and justify the level of grant support requested.

  7. Risk Sustainability Procurement& TransactionStructure Estate Audit, Space & Options Review InvestmentAppraisals Programme Design /RIBAStage C Quality & value Cost Plan I3’s Town Planning Project Management Affordability Property Criteria CapitalBid‘Form A’

  8. Property Criteria underpinned by: • consistency with LSC Regional Capital Strategy, and LSC local plan, College Development Plan, StAR & Property Strategy • financial structure • affordability assessments • consistency with Education Case

  9. Space Utilisation Analysis • Based on agreed GLH • Identify core allowance and atria • Backed up by curriculum needs analysis • Identify buildings/areas that are to be demolished. • Comply with LSC space guidelines • Education: 50% • Other: 30% • Balance: 20% • Atria: 10%

  10. I 3 Elemental Analysis • Needs to be based on current costs • Need separate analysis for each phase or different building • Need to complete the sustainability column • Need to provide an explanation for variances of +/- 5% median cost • Detailed breakdown for external works

  11. Phasing and Procurement Strategy • Need to demonstrate that the phasing strategy is appropriate for the project • Decant strategy where developing on existing college site, inc. cost and impact on provision. • Procurement strategy needs to be considered in respect of different elements of the project – eg refurbishment will normally differ from new build

  12. Programme • Gant chart needs to be legible and cover all phases of the project • The whole of the development process needs to be covered • Key milestone dates need to be identified • Timescales need to be realistic – September openings are not a requirement

  13. Project Management • Need to identify all consultants and the basis of their appointment • College’s internal arrangements for management of the project – key personnel and governance • All AiP’s should now include gateway review

  14. Stage C Design Report • needs to explain how the scheme has evolved relate to feasibility and options considered • needs to clarify space requirements • outline scale floor plans and elevation details • site survey – identify likely remediation and substructure requirements • draft sustainability strategy - BREEAM • service infrastructure requirements • M & E, fire strategy etc - SUMMARY • Planning and Highways consultation

  15. Planning • Need to have undertaken a full Planning and Highways consultation • Controversial schemes may need outline approval • Letter of comfort from LPA required as a minimum • Identify likely S. 106 and S. 278 implications

  16. Asset Disposals • College’s expected to dispose of surplus assets • Disposal strategy to be agreed prior with RPA and Regional Finance Team and needs to be included in AiP bid • Estimated receipts need to backed up by valuation and planning advice if appropriate

  17. Risk Assessment • All project risks and their potential impact on the project need to be identified • Mitigation strategy to minimise each risk

  18. THE END

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