Dear Sheffield City Council,
Please provide all information concerning the share of the financial risk liability between the Council, Queensberry and any other involved private organisation should the 'Heart of the City II' scheme not realise projected income streams.
What is the worst-case scenario in terms of the cost burden to the public finances and over what period?
What is the best-case scenario in terms of gain to City finance should the scheme by commercially successful?
What mitigation arrangements or insurances for potential failure did the Council negotiate or put in place when agreeing the contractual arrangements?
This information is clearly in the public interest because of the possible impact on the public purse in the now likely event of the financial inviability of the development.
Any attempt to use 'commercial confidentiality' as a reason for refusal will therefore be challenged with the ICO after Review.
Dear Russell Johnson,
Thank you for your request for information relating to information about
the balance of financial risk associated with the 'Heart of the City 2'
development which we received on 13/01/2021.
This has been logged as a Freedom of Information Request and will be dealt
with under the Freedom of Information Act 2000. The reference number for
your request can be found above.
Please be aware that Sheffield City Council’s response to the global
COVID-19 pandemic has led to a reduction in resources across the Council,
meaning that we are currently dealing with a backlog of requests.
We will aim to respond to your request within 20 working days, by
10/02/2021, but we kindly ask for your patience as we anticipate that
there may be a delay in some cases. Please do not hesitate to contact us
at the email address below if you have any queries.
Sheffield City Council
PO Box 1283
Sheffield, S1 1UJ
Email: [Sheffield City Council request email]
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