Decision Details

  • General
  • Reports

This section allows you to view the general details of a Decision

Details

Status:
Implemented
Decision Maker
Joint Directors
Title:
Greenwich Digital Connectivity Strategy
Is a Key Decision:
Yes
Purpose
To establish a Joint Venture with a, to be selected, private sector infrastructure provider to deliver a fibre to the premises infrastructure across the Borough
Due Date
Mon 28 Mar 2022
Directorate
Housing and Safer Communities
Include Item on Forward Plan:
Yes
Decision Type:
Officer
Decision Maker:
Jamie Carswell Damon Cook John Scarborough
Decision Outcome
1.1. Agreed the selection of ITS Technology Limited (company registration number 08786229) (“ITS”) as the Council’s Joint Venture Partner for the purpose of delivering a fibre infrastructure across the Borough, with an initial focus in the Woolwich area.

1.2 Agreed that the legal structure of the joint venture will be a company limited by shares, and that the Council’s subsidiary company, DG Cities Limited, will be the vehicle to enter into the joint venture with ITS Technology Limited;

1.3 Agreed the Joint Venture Agreement (JVA) and Fibre Infrastructure Operating Agreement (FIOA) as set out in Exempt Appendices 1 & 2 respectively and summarised in Section 4 of this report;

1.4 Noted the anticipated Return on Investment (ROI) based on the Business Case set out in Exempt Appendix 3, and to confirm this represents an acceptable basis to invest on commercial terms
balanced with the Council’s aim of universal coverage;

1.5 Noted that under the terms of the JVA, DG Cities Limited and ITS will each have a 50:50 interest in the JV company with up to three representatives for each party on the Board and equal representation from each party;

1.6 Noted the recommendation, to be made to the Leader of the Council, that there will be two representatives from the DG Cities Limited Board including the Managing Director, and one Officer representative nominated directly by the Council, on the JV Board.

1.7 Approved a payment of £1,000,000 in subscription monies to DG Cities Limited in return for an allotment of 1,000,000 new ordinary shares of £1 each at par.  An initial amount
of £222,000 to be paid when the shares are allotted and the remainder paid as and when DG Cities Limited demands payment. And to note that this investment is necessary to ensure that DG Cities Limited has the funds required to make the proposed investment of £1,000,000 in JV Co

1.8 Noted that subscription monies have been allocated from Local London Strategic Investment Programme funding, and underwritten from Community Infrastructure Levy receipts
 

Additional Information

D15 - General Exception
D16 - Special Urgency

Decision Criteria

This Decision does not contain any decision criteria records.

Wards

All

Topics

This Decision does not contain any Topic records

Overview and Scrutiny

This Decision does not contain any Overview and Scrutiny records.

This section allows you to view the reports for the Decision.

Reports

  1. pdf Greenwich Digital Connectivity Strategy (253Kb)
    1. pdf Appendix 1 (exempt) - Exempt Report
    2. pdf Appendix 2 (Exempt) - Exempt Report
    3. pdf Appendix 3 (Exempt) - Exempt Report
    4. pdf Appendix 4 (Exempt) - Exempt Report
    5. pdf Appendix 5 (Exempt) - Exempt Report

This section displays the history of the Decision.

Decision History

Date & Time CreatedUser Full NameStatus DescriptionDetails
123
 Page 1 of 3, items 1 to 10 of 29.
15/09/2020 16:50:47Nassir AliBusiness Item Created 
15/09/2020 16:51:12Nassir AliStatus ChangedDecision Proposed [2]
15/09/2020 16:53:08Nassir AliContacts Edited 
30/10/2020 16:20:49Anthony SoyinkaGeneral Details Edited 
07/01/2021 21:33:09Anthony SoyinkaGeneral Details Edited 
19/02/2021 16:44:32Toyin ShobowaleGeneral Details Edited 
25/03/2021 18:13:42Toyin ShobowaleGeneral Details Edited 
22/04/2021 14:05:16Toyin ShobowaleGeneral Details Edited 
18/05/2021 11:37:29Toyin ShobowaleGeneral Details Edited 
23/06/2021 12:25:30Toyin ShobowaleGeneral Details Edited 

Approval/Comments

No history found.