Two weeks ago, OnTheWight revealed that the Solent LEP had launched a public consultation on the latest business case for the Cowes floating bridge.
Residents in the Floating Bridge Stakeholders Group have been working their way through the 107 page document and discovered the latest costs.
In March 2016, the IWC announced the new £3.2m floating bridge had been commissioned.
Jump forward two and a half years, the total costs to date is a staggering £6.4m, some of which will be covered by the SLEP (around £3m was agreed), but the remainder has been the responsibility of the Isle of Wight council.
| Professional Fees (naval architect, owners reps etc) | £328,764 |
| Superstructure (construction, fit out, approvals)A | £3,031,249 |
| Superstructure (contract variations) | £431,412 |
| TicketingB | £160,282 |
| Slipways | £683,149 |
| Slipway design | £49,029 |
| Chain survey, works, fees | £114,603 |
| Noise mitigation works | £31,441 |
| IWC costs – project managerC | £65,000 |
| Other expenditureD | £205,307 |
| Known additional works | £169,200 |
| Extended WarrantyE | £65,000 |
| Remedial options design workF | £500,000 |
| ContingencyF | £100,000 |
| Total | £5,931,936 |
| Replacement Launch Costs (2017 and 2018) | £439,281 |
| Operative Employment costs - additional | £114,000 |
| Other operating incurred costs - additional | £33,000 |
| Savings in Floating Bridge 6 out of service | -£47,000 |
| Total | £539,281 |
Love: Situation is “truly shocking”
Karl Love told OnTheWight,
“It is truly shocking and especially in the context of the proposed Austerity cuts this administration intend to impose on our Island people in its next budget proposal.
“Cllr Ian Ward‘s administration of this whole situation is equal incompetent, full of mismanagement, media gaffs and a determination to soldier on within his tribal Tory rank and file.
“Only a full independent Inquiry can tell us what’s happened here, however I think we have wasted enough money and I will settle for it working as it was designed for, but we are far from this.
“£539,281 in additional replacement launch costs could have been saved and continued the good work of our Local Area Coordinators.”
Love: Call for resignations
Cllr Love continued,
“Cllr Ward must resign and step-aside so that a competent fresh member can move in and sort this story fiasco out once and for all.
“I and the people of the Medina Valley Estuary and East Cowes have lost all confidence in Cllr Ward and Cllr Dave Stewart is equally to blame for all his empty promises and we still don’t have a fully operational FB as it was designed to implemented.
“It’s our local people’s who suffer a poor service and our Island people who are paying the finally mismanagement price.”
The Business Case
Jump to page 64 to see full details of the costs.
A – MCA and Lloyd’s approvals costs that were estimated in the earlier business case as
distinct line items formed part of the superstructure contract and therefore cannot be
disaggregated
B – costs included enhanced ticketing system, including smart card functionality, and a new
dedicated floating bridge web-site (see https://www.iwfloatingbridge.co.uk/)
C – estimated cost. These costs were absorbed into IWC revenue costs and not recharged to
the project but are included in this appraisal for completeness
D – various ancillary works including provision of client supply items for the build, new waiting
area at East Cowes, land surveys, health and safety audit
E – Extended warranty to cover months 13-24
F- Includes some on-going or expected work, and therefore subject to change
Image: © The excellent Ferry Spy
