Phase | Date |
|
Feasibility and preparation | May 1994 | Contributions Agency submit a proposal for a traditional Crown Build redevelopment of Longbenton to the Treasury. |
Feasibility and preparation | September 1994 | A Report by Storey Sons and Parker recommends that a Private Finance solution is not feasible for the Longbenton site alone. |
Feasibility and preparation | November 1994 | Agency establishes a Project Board for the redevelopment of the Newcastle Estate as the scope of the Private Finance solution is widened to include other sites in the Newcastle area in addition to Longbenton. |
Competition | January 1995 | The Agency formally invite private sector interest in the Official Journal of the European Community. |
Competition | 7 February 1995 | The Agency issue a briefing document and questionnaire to firms expressing interest. |
Competition | 10 March 1995 | Closing date for returned questionnaires. 14 responses received. |
Competition | 4 April 1995 | Agency issues Department's outline service requirement to the eight consortia they had selected to make proposals. |
Competition | May 1995 | Presentation and evaluation of indicative proposals by the eight consortia, from whom the Agency select a short list of three. |
Competition | July 1995 | Agency issues Department's detailed service requirement to the three short-listed consortia. |
Competition | September 1995 | Evaluation of indicative prices submitted by the short-listed bidders, and comparison with the earlier, Crown Build scheme. |
Competition | 15 November 1995 | Agency issues Invitation to Negotiate to the short-listed consortia. |
Competition | 25 January 1996 | Agency issues Invitation to Tender, requesting firm priced bids (Best and Final Offers) from the consortia. |
Competition | 16 February 1996 | Best and Final Offers received from the three short-listed consortia. |
Competition | February-May 1996 | Agency evaluates Best and Final Offers and requests clarification of aspects of each bidder's proposal. |
Negotiation | 20 June 1996 | Agency announces that the Newcastle Estate Partnership consortium are the preferred bidder, with whom negotiations begin, and Tyne Partnership are the reserve supplier. |
Negotiation | January 1997 | Agency releases Tyne Partnership as reserve supplier. |
Negotiation | 15 August 1997 | The Department and the Newcastle Estate Partnership reach commercial agreement on the terms of the PFI deal, leading to the signature of conditional contracts ("Commercial Close"). |
Arrangement of funding | September 1997 | The Newcastle Estate Partnership replaces Bankers Trust as funding bank, so that the deal in its entirety becomes funded by the Royal Bank of Scotland. |
Completion | 30 December 1997 | Contracts signed by the Department. |
| 8 January 1998 | Contracts become effective as funding arrangements completed ("Financial Close") and Newcastle Estate Partnership sign the contract. |