Special purpose vehicle to execute Smart City projects
Mr George held meeting with officials of BBMP for smart city initiative.
Bengaluru: In the wake of central government’s decision to include the Bengaluru in the smart city list, the Bengaluru Development Minister K.J. George directed various agencies to set up Special Purpose Vehicle (SPV) to ensure effective implementation of various projects.
Mr George held meeting with officials of BBMP for smart city initiative. On June 23, Bengaluru was selected in the list of 30 smart cities by the Centre.
SPV would be formed to implement projects for other cities selected under smart city initiative as per the Centre’s guidelines. The urban development department will issue notification of the formation of SPV shortly.
Sources in the BBMP said that the idea is that projects for which detailed project reports (DPR) are ready can be taken up without waiting for Centre’s allocation. DPR for K.R. Market renovation and Shivajinagar bus terminal and playground comprehensive development projects are ready and the BBMP can kick start these projects.
Mr George committed to sanction its allocation before Centre does to expedite project implementation and said the SPV can borrow from the state in the interim period.
The BBMP expressed its desire to have Jana USP to be project consultant for all the projects enlisted under the smart city. However, the BBMP has to seek permission from state government to allow the third party consultant, Palike sources said.
BBMP in its project has listed 10 interventions, categorised into seven area based development projects and eight projects to develop governance and service delivery systems with use of technology, pegged at Rs 1,700 crore. Of the total, it will get sanction for Rs 500 crore from the Union Ministry of Urban Development in five years and the rest will come from state government.