1.00  INTRODUCTION

1.01  [ANYTOWN METROPOLITAN BOROUGH COUNCIL] ("the Council") has secured approval for one of the Housing Revenue Account (HRA) Housing Private Finance Initiative (PFI) projects.  The Council will shortlist a number of consortia ("the Bidders") to proceed through a competitive and negotiated process to select a private sector partner ("the Operator") to deliver well-maintained modern social housing within a managed environment.  The Council is proposing a contract period of 30 years which is due to commence by [Month - Year].

1.02  The Operator will be responsible for improving, maintaining and managing approximately [   ] numbers of properties and related assets ("the Properties").  A full list of the Properties forming the project is included at Appendix 1 to this Brief.

1.03  The Operator will be required to hand back the control of the residual portfolio of the Properties to the Council at the end of the contract period. At hand back the Properties will be required to meet the standards set out in the hand back requirements contained in the Output Specification. The handback requirements will take into account the future capital replacement plan as detailed in the asset renewal plan set out at [insert details] requiring that the Properties continue to meet specified standards for a period of [5] years after the end of the contract period.  The Council and the Bidders will require therefore that the stock condition survey ("the Survey") is carried out based upon a proposed contract period of 35 years.