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Economic Stimulus Plan - transfer of funds to Property Holdings

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A decsion made 16 November 2009 regarding: Economic Stimulus Plan - transfer of funds to Property Holdings.

Decision Reference:  MD-TR-2009-0185

Decision Summary Title:

Discretionary Fiscal Stimulus – Jersey Property Holdings Allocation

Date of Decision Summary:

13 November 2009

Decision Summary Author:

Treasurer of the States

Decision Summary:

Public or Exempt?

Public

Type of Report:

Oral or Written?

Written

Person Giving

Oral Report:

N/A

Written Report

Title:

Allocation of fiscal stimulus funding to the construction and maintenance project team 

Date of Written Report:

13 November 2009

Written Report Author:

Programme Manager, Fiscal Stimulus

Written Report :

Public or Exempt?

Public

Subject:

Economic Stimulus Plan: budget allocation Jersey Property Holdings in relation to the funding the planning and design of various fiscal stimulus projects

Decision(s):

The Minister approved the allocation of £62,000 to Jersey Property Holdings, to be transferred to the department’s budget as set out in the accompanying report.   

He further instructed the construction and maintenance project team to report on spend of all stimulus monies, and project progress/performance, on a monthly basis in accordance with guidelines set by the Treasury.

Reason(s) for Decision:

A discretionary fiscal stimulus allocation from the Stabilisation Fund of £44m has already been approved. The approved funding to Jersey Property Holdings totalling £62,000 will enable the construction and maintenance project team to progress design works on a number of projects in accordance with the critical path for delivering these stimulus projects on a timely basis.

Resource Implications:

No resource implications other than those already approved at the States’ debate (P55/2009) on 19th May 2009.

Action required:

Treasury to be informed of decision to release necessary funds to Jersey Property Holdings budgets. 

Signature: 
 
 

Position: Deputy E. J. Noel, Assistant Minister for Treasury and Resources 

Date Signed:

Date of Decision:

Economic Stimulus Plan - transfer of funds to Property Holdings

Allocation of fiscal stimulus funding to Jersey Property Holdings for planning and project management    

Report summarizing recommendations of the Fiscal Stimulus Steering Group

13th November 2009  

Background  

The Fiscal Stimulus Steering Group has stipulated to all of the departments with provisional approval for construction projects, that final approval “be dependent on (the department) demonstrating you have the capacity to handle the work, the structure of the programme and that projects will be subject to proper control.”   

The Fiscal Stimulus Provisional Programme includes £30m of construction projects sponsored by several departments of the States – Jersey Property Holdings, Housing, Health and Social Services, and Economic Development. These projects are brought together in the governance structure under the Construction and Maintenance Project Board, chaired by the Assistant Director of Property Holdings - Finance & Strategy. The purpose is to provide a consistent governance framework across departments for similar projects, to manage the release of projects into the market place as evenly as possible and share information gained on changing conditions in the construction market. 

The Steering Group recommended that a temporary professional resource be appointed to drive forward and manage the Construction and Maintenance Project Board’s portfolio of projects and made an appointment on 6 October 2009. 

All these projects will provide work for local business and labour, and are programmed to be undertaken in 2009, 2010, and 2011 significantly increasing public sector spending and investment in Jersey’s infrastructure.    

Fiscal Stimulus Steering Group Recommendation  

Following review at the Fiscal Stimulus Steering Group meeting on 13th November 2009, the Steering Group are making a recommendation to the Treasury and Resources Minister that £62,000 is allocated to Jersey Property Holdings to cover the programme management and co-ordination spend: 

 

 
 
 
Project type

 

Ending 31 December 2009

Ending 31 December 2010

Total

Budget Allocation

£

Construction and Maintenance Programme Management

 

31,000

31,000

62,000

 

 

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