Social work and related services

Tender description

Norfolk County Council is seeking an investor provider partnership to establish a special purpose vehicle (SPV) that funds and contracts the delivery of evidenced based interventions which result in a reduction in the number of days that looked after children spend in care. Norfolk County Council has made a successful Expression of Interest application to the Big Lottery Life Chances Fund (LCF) that has supported the development of a Social Impact Bond (SIB) with the aim of reducing the number of looked after children over a 5 year period The full application deadline is 31.10.2017. If our LCF application is successful, Norfolk County Council will seek to award a payment by results contract to an investor provider partnership established as a special purpose vehicle (SPV) that funds and contracts the delivery of evidenced based interventions which result in a reduction in the number of days spent in care. Assuming median performance, the SIB funded project is expected provide net savings for NCC of 7 000 000 GBP over 5 years, as a result of reducing our placement costs for looked after children.