Decision details

Under the terms of a S106 agreement, the South Bank Employers Group (SBEG) provides specified operational and community initiatives in the South Bank area. These are financed by payments that the Council receives annually from the operator of the Coca-Cola London Eye. The Council makes payment to SBEG in arrears on the basis of goods provided and services rendered according to an agreed programme of work.

To approve the total budget of £764,472 for 2018/19.

To waive the Council’s Contract Standing Order 9.2 that requires competitive tendering for contracts over £100,000 and agree that, in respect of goods and services delivered by the South Bank Employers’ Group in 2018/19, the following payments are made, totalling £764,472:

a)     immediate payment of £195,798 plus VAT

b)    further payments of £189,558 (+VAT) in October 2018 and £189,558 (+VAT) in January 2019

c)     subject to due diligence by the Director of Environment, an estimated £189,558(+VAT) in April 2019