Issue details
Social Impact Bond: Pan-London Edge of Care Project
Tower Hamlets Children’s Services has been working with the Greater London Authority and five other London Boroughs – Bexley, Hillingdon, Merton, Newham and Sutton - to develop a scalable edge of care service using inter alia Multi-Systemic and Functional Family Therapies and funded via social investment in a social impact bond (SIB).
Tower Hamlets has been asked to act as the lead authority within the procurement process. As the lead commissioner we would undertake a procurement process on behalf of the SIB Commissioners and be responsible overall for contract compliance. Each Borough will separately enter into an outcomes contract with the selected SIB Provider so LBTH will not hold any financial risk for other participating boroughs.
Decision type: Key
Decision status: Abandoned
Wards affected: (All Wards);
Notice of proposed decision first published: 24/06/2016
Decision due: 6 Sep 16 by Cabinet
Lead member: Deputy Mayor and Cabinet Member for Education and Children's Services
Lead director: Corporate Director, Children and Culture
Department: Children and Culture
Contact: Kate Bingham, (Service Head, Children's and Adults Resources) Email: kate.bingham@towerhamlets.gov.uk.
Consultation process
This project has been developed alongside the Greater London Authority (GLA) and as part of a Pan-London working group.
Social Finance was commissioned by the GLA to complete a feasibility study and develop a business case for the project. Social Finance has facilitated a number of workshops including a session with children’s social care in December 2016.
A report has been scheduled for Competition Board on the 20th June 2016.
Has an Equality Analysis been carried out and if so the result of this Assessment?: A Quality Assurance Checklist will be completed to establish a requirement to complete an EqIA.
What supporting documents or other information will be available?: 1. Social Impact Bond: Pan-London Edge of Care Project 2. Social Impact Bond Partnership Agreement