Economic Infrastructure Fund

Roedd y cais yn llwyddiannus.

Dear City of York Council,

On 3/4/12 James Alexander, then Council Leader and Kersten England, then Chief Executive, presented a paper to cabinet requesting support for investment in a new ‘Economic Infrastructure Fund’.

The justification for this fund, and its required borrowing, was to improve the economic outlook of York through a variety of ‘innovative’ investments.

http://democracy.york.gov.uk/ieDecisionD...

Please advise:
1. How much was invested from the fund.
2. The repayment term and borrowing costs required to deliver the fund.
3. When the borrowing for the fund will be repaid
4. Where investments were made - name of department and or organisation invested in, project title, amount invested, rate of return and project measurement goals etc.
5. Evaluation of impact for each of the investments listed in 4. above.
6. Current status of the fund.

Yours faithfully,

Michael Hammill

foi@york.gov.uk, City of York Council

Thank you for your email. Please note this is an automatically generated receipt to let you know we have received your email.

For information:

* The timescale for responding to Freedom of Information Act (FOIA) and Environmental Information Regulation (EIR) requests is up to 20 working days. We will contact you promptly if we need you to clarify your request or an extension to complete a public interest test.

o The timescale for responding to requests for a review, for FOIA or EIR responses, is up to 20 working days. You are also able to contact the Information Commissioner, contact details below:

* The timescale for responding to your rights in relation to personal data eg: subject access to records (SAR) request, is up to 1 month. We will contact you promptly if we require further information from you, or an extension.

o The timescale for responding to requests for a review, of responses to your rights regarding personal data, is up to 1 month. You are also able to contact the Information Commissioner, contact details below:

Information Commissioner's Office
Wycliffe House Water Lane
Wilmslow
Cheshire
SK9 5AF
Tel: 0303 123 1113 (local rate) or 01625 545 745 if you prefer to use a national rate number
Fax: 01625 524 510
Or email: [email address]<mailto:[email address]> (please include your telephone number in your email)

Regards
Customer Feedback Team

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Help protect the environment! - please don't print this email unless you really need to.

dangos adrannau a ddyfynnir

Dear City of York Council,

Please pass this on to the person who conducts Freedom of Information reviews.

I am writing to request an internal review of City of York Council's handling of my FOI request 'Economic Infrastructure Fund'.

You have not met the deadline for a response

A full history of my FOI request and all correspondence is available on the Internet at this address: https://www.whatdotheyknow.com/request/e...

Yours faithfully,

Michael Hammill

foi@york.gov.uk, City of York Council

Thank you for your email. Please note this is an automatically generated receipt to let you know we have received your email.

For information:

* The timescale for responding to Freedom of Information Act (FOIA) and Environmental Information Regulation (EIR) requests is up to 20 working days. We will contact you promptly if we need you to clarify your request or an extension to complete a public interest test.

o The timescale for responding to requests for a review, for FOIA or EIR responses, is up to 20 working days. You are also able to contact the Information Commissioner, contact details below:

* The timescale for responding to your rights in relation to personal data eg: subject access to records (SAR) request, is up to 1 month. We will contact you promptly if we require further information from you, or an extension.

o The timescale for responding to requests for a review, of responses to your rights regarding personal data, is up to 1 month. You are also able to contact the Information Commissioner, contact details below:

Information Commissioner's Office
Wycliffe House Water Lane
Wilmslow
Cheshire
SK9 5AF
Tel: 0303 123 1113 (local rate) or 01625 545 745 if you prefer to use a national rate number
Fax: 01625 524 510
Or email: [email address]<mailto:[email address]> (please include your telephone number in your email)

Regards
Customer Feedback Team

* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
Help protect the environment! - please don't print this email unless you really need to.

dangos adrannau a ddyfynnir

Kirby, Sarah, City of York Council

1 Atodiad

Dear Mr Hammill

Please find below a response to your FOI regarding the EIF. I apologise for the delay in replying.

1. How much was invested from the fund.
The original budget allocated to the fund was agreed by Cabinet in April 2012 at £28.5m. However, the fund was wound up in 2015/16, at which point the actual spend was £25.346m. The windup of the EIF is covered in further detail in the 2015/16 M3 Capital Strategy report to Executive dated 11 February 2016. (para 7)

2. The repayment term and borrowing costs required to deliver the fund.
3. When the borrowing for the fund will be repaid.
The Council manages the councils total capital expenditure, and associated debt, as one portfolio made up of a range of fixed term loans, plus use of cash balances. The balance between cash balances, and borrowing, changes over time. It is not therefore possible to give an answer to 2 and 3, as borrowing is not taken out specific to individual projects.

4. Where investments were made - name of department and or organisation invested in, project title, amount invested, rate of return and project measurement goals etc.
5. Evaluation of impact for each of the investments listed in 4. above.
Please see the attached spreadsheet which details the total spend for each scheme, the relevant CYC department, the project goals and the evaluation of impact. This is based on the monitoring of the EIF before the scheme was wound up. Note that the April 2012 cabinet report stated that the Fund will seek to provide a “return on investment” although this return on investment will be measured not necessarily in repayment to the Fund but in the form of investment in the city’s economy.

6. Current status of the fund.
See the answer to Q1.

If you are dissatisfied with our response you have the right to ask for a review of how your enquiry was handled and responded to. This can be done by contacting us through [City of York Council request email] stating your reason(s) why you are dissatisfied. If you remain dissatisfied after receiving the review response you can contact the Information Commissioner, contact details below:
Information Commissioner's Office
Wycliffe House Water Lane
Wilmslow
Cheshire
SK9 5AF
Tel: 0303 123 1113 (local rate) or 01625 545 745 if you prefer to use a national rate number
Fax: 01625 524 510
Or email: [email address] (please include your telephone number)

Regards
Sarah

Sarah Kirby | Principal Accountant (Corporate Finance)
t: 01904 551635 | e: [email address]

City of York Council|Customer & Corporate Services Directorate
West Offices| Station Rise| York YO1 6GA www.york.gov.uk | facebook.com/cityofyork |@CityofYork

dangos adrannau a ddyfynnir

foi@york.gov.uk, City of York Council

1 Atodiad

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Dear Mr Hammill,
 
Please see below the outcome of the review into this Freedom of
Information Act (FOIA) request.
 
Review Request...
My understanding of your request for a review of the City of York
Council's handling of my FOI request 'Economic Infrastructure Fund', is
that we have not responded to you with in the statutory deadlines.
 
Review...
Our records show that you have made your FIOA request on the 2^nd June
2018. The statutory deadline for a FIOA request is 20 working days,
consequently our response due date was the 29^th June 2018.
 
Our records also show that we have provided you with a response on the
5^th of July 2018, which is 4 working days out of time. This response has
been completed in full.
 
Review Outcome...
I acknowledge that your response was 4 working days late, and apologise
for this. As you have now received your FIOA response, I will be
concluding my review, at this time.
 
If you remain dissatisfied you can now contact the Information
Commissioner, contact details below:
Information Commissioner's Office
Wycliffe House Water Lane
Wilmslow
Cheshire
SK9 5AF
Tel: 0303 123 1113 (local rate) or 01625 545 745 if you prefer to use a
national rate number
Fax: 01625 524 510
Or email: [1][email address] (please include your telephone number)
 
Yours sincerely
 
 
Lucinda Child | Information Governance Advisor.
t: 01904 554145 | e: [2][City of York Council request email]
 
City of York Council  | Information Governance, Complaints and Feedback
Team
West Offices | Station Rise | York YO1 6GA
[3]www.york.gov.uk | [4]facebook.com/cityofyork | [5]@CityofYork
 
 
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Help protect the environment! - please don't print this email unless you
really need to.

dangos adrannau a ddyfynnir