Decision details

For the Head of Programme Management - Regeneration and Economic Development to approve the implementation of Contract Standing Order 9.07.1c.and award a contract to prepare and deliver the Wood Green Central Internal Financial Model to Quod Ltd. for a period of 12 months from a target start of September 2024, for a total contract value of £47,600.

The Director of Finance has recommended that a financial model is needed that can test the outputs of different development scenarios of the Wood Green Central Delivery Plan against council’s financial requirements. This commission is to develop and maintain the model.

A) Carry out the work internally using officer resources
Officer resources could be used to build the model internally. However, both the specialist skillset and spare resourcing required to build such a bespoke and complex financial model is not currently present within the council.

B) Do nothing
Doing nothing means the financial model would not be developed and the council would not fully understand the impact of the development options on its finances. This would make proceeding with a preferred development scenario and delivery route extremely risky.