Abstract
The Private Finance Initiative (PFI) was launched in 1992 with the stated aim of delivering higher quality and more cost-effective public services. Since that time, procedural changes (the 1997 Bates Review and the Local Government (Contracts) Act), together with a realization that other capital funding was unavailable, have resulted in a growing list of local authority projects competing for PFI resources. The proposed Nottingham Express Transit (NET) system has developed through this period of change and the procurement of NET Line 1 is the largest local authority promoted PFI project in the UK. This paper describes the public-private partnership arrangements from concept to contract. The size and complexity of the Nottingham project has made it a significant pathfinder for PFI in the local authority sector, highlighting issues which have been at the forefront of developing practice.
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