HDV £2billion valuation

Sarah Cave made this Freedom of Information request to Haringey Borough Council

This request has been closed to new correspondence from the public body. Contact us if you think it ought be re-opened.

The request was refused by Haringey Borough Council.

Dear Haringey Borough Council,
Please provide details of how the valuation of £2billion was arrived at in relation to the proposed HDV. Which companies or organisations were used to do the property valuation and what were the upper and lower limits of these valuations?

Yours faithfully,
Sarah Cave

FOI, Haringey Borough Council

Dear Ms Cave,

 

Freedom of Information Request:  Reference: LBH/5997217

 

I acknowledge your request for information.

 

This information request will be dealt with in accordance with the Freedom
of Information Act and we will send the response by 3 March 2017.

 

Yours sincerely,

 

 

Simon Dingomal 

Feedback Review Officer

 

Shared Service Centre | Central Team

Haringey Council 

River Park House, 225 High Road, London, N22 8HQ

 

[1][email address]

 

[2]www.haringey.gov.uk

twitter@haringeycouncil

facebook.com/haringeycouncil

 

show quoted sections

Hawthorn Dan, Haringey Borough Council

Dear Ms Cave

 

Your request for this information has been passed to me.  You asked:

 

Please  provide details of how the valuation of £2billion was arrived at
in relation to the   proposed HDV. Which companies or organisations were
used to do the property valuation and what were the upper and lower limits
of these valuations?

 

Your request has been handled under the Freedom of Information Act 2000
(FOIA). This letter is a notice of the refusal of your request, as
required under section 17 FOIA.

 

You may find it helpful to look at the large amount of information on the
HDV proposal which is brought together on a dedicated page on the
Council’s website at: [1]http://www.haringey.gov.uk/hdv. 

 

Turning to your specific request, the £2bn figure refers to the estimated
value of new development on those sites that are currently proposed for
development by the HDV – their potential so-called gross development value
(GDV).  The figure was derived as part of the financial appraisal which
underpinned the business case for the HDV approved by Cabinet in November
2015 (see
[2]http://www.minutes.haringey.gov.uk/ieLis...
The work was done on behalf of the Council by GVA Bilfinger and Turnberry
Real Estate. 

 

However, the financial appraisal (Appendix 5 to the November 2015 cabinet
paper) was in the exempt section of the Cabinet papers because its
publication would have created a substantial risk of prejudice to the
procurement of a private sector partner with which to establish the HDV.

 

As matters stand, information held by the Council relating to your request
is exempt under section 43(2) FOIA, which provides as follows:

 

(2) Information is exempt information if its disclosure under this Act
would, or would be likely to, prejudice the commercial interests of any
person (including the public authority holding it).

 

The information relating to your request relates to an ongoing procurement
process conducted with external service providers in a competitive
environment. Although the Council has now identified its preferred bidder
in relation to the proposal, the information requested remains
commercially sensitive as the process of coming to a commercial agreement
continues.  Release of information in scope of the request could prejudice
the financial outcome for the Council, not least because bargaining
positions may become public prior to negotiations being concluded. Such
publicity would impede the give-and-take process of negotiation and
prejudice the Council’s ability to secure the best possible terms.

 

This is a qualified exception and is therefore subject to the public
interest test.

 

The public interest arguments in favour of releasing this information
include the following:

·         Disclosure would further understanding of or participation in a
significant initiative that impacts on businesses and residents in
Haringey;

·         Disclosure would encourage transparency in the Council’s
decision making processes;

·         Disclosure would allow transparency of decisions on how public
funds are spent

 

The public interest arguments for withholding the information include the
following:

·         The public disclosure of this information would be likely to
prejudice the commercial interest of the Council (see above);

·         The Council’s position in negotiations with the preferred bidder
would be jeopardised if this information is released, with the Council
losing some of its bargaining power;

·         The Council’s position in future procurement negotiations in
later phases of the project may be jeopardised if this information is
released (i.e. the prejudicial consequences would be likely to be felt not
only in the immediate phase, but in other phases also);

·         This would have a detrimental impact on the Council’s ability to
maximise its commercial objectives on behalf of the public as part of this
initiative.

·         In the longer term, contractors with whom the Council comes to
negotiate on similar matters will be able to use this information to
strengthen their bargaining position and obtain unfair insights into the
Council’s strategic thinking and financial assessments. This could
prejudice the Council’s ability to obtain the most favourable commercial
terms in such transactions.

 

Having carefully weighed the public interest arguments, the Council has
concluded that the public interest in withholding the information
outweighs the public interest in releasing it.

 

I reiterate that the Council acknowledges that disclosure would to some
extent enhance the public’s understanding of how the Council is
approaching this joint development. As explained above, however, the
Council has already published a great deal of the background information
about the HDV and will continue to publish as much information as possible
once the procurement process passes certain critical milestones.  

 

If you wish to apply for an internal review of the information provided,
or to complain about the way your request was handled (please note you
should do this within two months of receiving this response) please
contact:

 

Haringey Council

Feedback and Information Team

River Park House

225 High Road

LONDON

N22 8HQ

Telephone:          020 8489 2550

Email:                 [3][email address]

 

Yours sincerely

 

Dan Hawthorn

 

Assistant Director for Regeneration

 

Haringey Council

River Park House, 225 High Road, Wood Green, London N22 8HQ

 

T. 020 8489 2247

E. [4][email address]

 

[5]www.haringey.gov.uk

@haringeycouncil

facebook.com/haringeycouncil

 

P Please consider the environment before printing this email.

 

 

 

 

show quoted sections

Dear Haringey Borough Council,

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

I am writing to request an internal review of Haringey Borough Council's handling of my FOI request 'HDV £2billion valuation'.

[ GIVE DETAILS ABOUT YOUR COMPLAINT HERE ]
The two links in your initial response do not work, so I am unable to find the minutes you refer to. I would be grateful if this could be corrected and the links resent.
Secondly, as the prefered bidder has now been announced the information requested is surely no longer ' sensitive. ' Therefore I would like you to reconsider your decision.

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

Yours faithfully,

Sarah Cave

FOI, Haringey Borough Council

Dear Ms Cave,

 

Internal Review regarding Freedom of Information request reference
LBH/5997217

 

Thank you for email received on 27 February 2017.

 

Your request for an Internal Review has been logged with the reference
LBH/6072017. Please quote this reference number on any further
correspondence.

 

Both the links in the previous response work for us within this email
string.  I have however copied them again for you:

[1]http://www.haringey.gov.uk/regeneration/...

 

[2]http://www.minutes.haringey.gov.uk/ieLis...

 

Alternatively the information can be found relatively easily on our
website by searching in the main menu for Haringey Development Vehicle,
and for Cabinet Reports in the Local Democracy pages.  

 

 

We will now review the response you have been sent to the above request
and I aim to let you know the outcome of our investigation by 27 March
2017. If I need longer, I will write to let you know the reason and when
you can expect a full reply.

 

If you have any questions, please let me know. 

 

Yours sincerely,

 

 

 

Sue Dyos

Feedback Team Leader 

Shared Service Centre | Central Team

Haringey Council

 

River Park House, 225 High Road, London N22 8HQ

 

 

 

From: Sarah Cave [[3]mailto:[FOI #387264 email]]

Sent: 26 February 2017 12:08

To: FOI

Subject: Internal review of Freedom of Information request - HDV £2billion
valuation

 

Dear Haringey Borough Council,

 

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

 

I am writing to request an internal review of Haringey Borough Council's
handling of my FOI request 'HDV £2billion valuation'.

 

[ GIVE DETAILS ABOUT YOUR COMPLAINT HERE ] The two  links in your initial
response do not work, so I am unable to find the minutes you refer to. I
would be grateful if this could be corrected and the links resent.

Secondly,  as the prefered bidder has now been announced the information
requested is surely no longer ' sensitive. '  Therefore I would like you
to reconsider your decision.

 

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

 

Yours faithfully,

 

Sarah Cave

 

 

 

From: Hawthorn Dan
Sent: 22 February 2017 12:30
To: [5][FOI #387264 email]
Cc: FOI
Subject: RE: Freedom of Information request - HDV £2billion valuation -
LBH/5997217

 

Dear Ms Cave

 

Your request for this information has been passed to me.  You asked:

 

Please  provide details of how the valuation of £2billion was arrived at
in relation to the   proposed HDV. Which companies or organisations were
used to do the property valuation and what were the upper and lower limits
of these valuations?

 

Your request has been handled under the Freedom of Information Act 2000
(FOIA). This letter is a notice of the refusal of your request, as
required under section 17 FOIA.

 

You may find it helpful to look at the large amount of information on the
HDV proposal which is brought together on a dedicated page on the
Council’s website at: [6]http://www.haringey.gov.uk/hdv. 

 

Turning to your specific request, the £2bn figure refers to the estimated
value of new development on those sites that are currently proposed for
development by the HDV – their potential so-called gross development value
(GDV).  The figure was derived as part of the financial appraisal which
underpinned the business case for the HDV approved by Cabinet in November
2015 (see
[7]http://www.minutes.haringey.gov.uk/ieLis...
The work was done on behalf of the Council by GVA Bilfinger and Turnberry
Real Estate. 

 

However, the financial appraisal (Appendix 5 to the November 2015 cabinet
paper) was in the exempt section of the Cabinet papers because its
publication would have created a substantial risk of prejudice to the
procurement of a private sector partner with which to establish the HDV.

 

As matters stand, information held by the Council relating to your request
is exempt under section 43(2) FOIA, which provides as follows:

 

(2) Information is exempt information if its disclosure under this Act
would, or would be likely to, prejudice the commercial interests of any
person (including the public authority holding it).

 

The information relating to your request relates to an ongoing procurement
process conducted with external service providers in a competitive
environment. Although the Council has now identified its preferred bidder
in relation to the proposal, the information requested remains
commercially sensitive as the process of coming to a commercial agreement
continues.  Release of information in scope of the request could prejudice
the financial outcome for the Council, not least because bargaining
positions may become public prior to negotiations being concluded. Such
publicity would impede the give-and-take process of negotiation and
prejudice the Council’s ability to secure the best possible terms.

 

This is a qualified exception and is therefore subject to the public
interest test.

 

The public interest arguments in favour of releasing this information
include the following:

·         Disclosure would further understanding of or participation in a
significant initiative that impacts on businesses and residents in
Haringey;

·         Disclosure would encourage transparency in the Council’s
decision making processes;

·         Disclosure would allow transparency of decisions on how public
funds are spent

 

The public interest arguments for withholding the information include the
following:

·         The public disclosure of this information would be likely to
prejudice the commercial interest of the Council (see above);

·         The Council’s position in negotiations with the preferred bidder
would be jeopardised if this information is released, with the Council
losing some of its bargaining power;

·         The Council’s position in future procurement negotiations in
later phases of the project may be jeopardised if this information is
released (i.e. the prejudicial consequences would be likely to be felt not
only in the immediate phase, but in other phases also);

·         This would have a detrimental impact on the Council’s ability to
maximise its commercial objectives on behalf of the public as part of this
initiative.

·         In the longer term, contractors with whom the Council comes to
negotiate on similar matters will be able to use this information to
strengthen their bargaining position and obtain unfair insights into the
Council’s strategic thinking and financial assessments. This could
prejudice the Council’s ability to obtain the most favourable commercial
terms in such transactions.

 

Having carefully weighed the public interest arguments, the Council has
concluded that the public interest in withholding the information
outweighs the public interest in releasing it.

 

I reiterate that the Council acknowledges that disclosure would to some
extent enhance the public’s understanding of how the Council is
approaching this joint development. As explained above, however, the
Council has already published a great deal of the background information
about the HDV and will continue to publish as much information as possible
once the procurement process passes certain critical milestones.  

 

If you wish to apply for an internal review of the information provided,
or to complain about the way your request was handled (please note you
should do this within two months of receiving this response) please
contact:

 

Haringey Council

Feedback and Information Team

River Park House

225 High Road

LONDON

N22 8HQ

Telephone:          020 8489 2550

Email:                 [8][email address]

 

Yours sincerely

 

Dan Hawthorn

 

Assistant Director for Regeneration

 

Haringey Council

River Park House, 225 High Road, Wood Green, London N22 8HQ

 

T. 020 8489 2247

E. [9][email address]

 

[10]www.haringey.gov.uk

@haringeycouncil

facebook.com/haringeycouncil

 

P Please consider the environment before printing this email.

 

 

 

 

show quoted sections

FOI, Haringey Borough Council

1 Attachment

Dear Ms Cave,

 

Please find attached response to the Internal Review of request reference
 LBH/5997217

 

Regards

 

Sue Dyos

Feedback Team Leader 

Shared Service Centre | Central Team

Haringey Council

 

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