Statement regarding the progress towards financial close on the Little London, Beeston Hill and Holbeck PFI project

The proposed contractor and funders of the Little London, Beeston Hill and Holbeck Private Finance Initiative (PFI) scheme have told the council that they are making good progress towards financial close and have expressed optimism that the process is on the way to completion early in the new year.

Councillor Peter Gruen (Executive Member for Neighbourhoods, Planning and Support Services) said:

“The council is continuing to work closely with the relevant parties to get to a point where building works can commence on the Little London, Beeston Hill and Holbeck PFI. We are waiting for the contractor to finalise their funding and construction programmes for the scheme. All council approvals are in place and I would hope that a start can be made in the Spring, once the contractor has been formally appointed.

“The council is very much aware of the importance of the scheme to the communities concerned and will continue to do all it can to make sure work starts as soon as possible. Although I welcome the progress, we have been made promises before and the onus, however, is on the new company Sustainable Communities for Leeds and its funders to resolve these issues in a timely manner.

"For the communities in South Leeds, this is becoming a public test of confidence regarding whether the major banks have really turned the corner or not. This is a blue-chip scheme and the Leeds public will draw its own conclusions if there is continuing delay in investing in Leeds."

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