The process of creating separate companies under the Smart Cities Mission has begun and the State Government has decided to name the Special Purpose Vehicle (SPV) which will be a registered company under the Companies Act will be named as “Belagavi Smart city Limited”.
Mayor Sarita Patil and G Prabhu will have to get their Director Identification Number (DIN) and after that the formal process of registration of the SPV with the Registrar of companies will begin.
The SPV will have 7 members on its board namely, The Governor, Secretary of Union Ministry of Urban Development, MD of Karnataka Sate Infrastructure development Corporation, Managing Director HESCOM, MD of Karnataka Urban Water Supply & Drainage Board, Mayor and the City Corporation Commissioner.
The name of the Managing Director/Chief Executive Officer has to be cleared by the Union Ministry of Urban Development and he/she will work independently and have a three-year tenure.
Belagavi will get Rs. 100 crore per city per year for the next FIVE years.
Already Rs.2 crore were alloted for the preparation of the Smart city plan.
All funds from the centre would be routed through this SPV only
SPVs will plan, appraise, approve, release funds, implement, manage, operate, monitor and evaluate the Smart City development projects.
The key functions and responsibilities of the SPV are to:
i. Approve and sanction the projects including their technical appraisal.
ii. Execute the Smart City Proposal with complete operational freedom.
iii. Take measures to comply with the requirements of MoUD with respect to the implementation of the Smart Cities programme.
iv. Mobilize resources within timelines and take measures necessary for the mobilisation of resources.
v. Approve and act upon the reports of a third party Review and Monitoring Agency.
vi. Overview Capacity Building activities.
vii. Develop and benefit from inter-linkages of academic institutions and organizations.
viii. Ensure timely completion of projects according to set timelines.
ix. Undertake review of activities of the Mission including budget, implementation of projects, and preparation of SCP and co-ordination with other missions / schemes and activities of various ministries.
x. Monitor and review quality control related matters and act upon issues arising there of.
xi. Incorporate joint ventures and subsidiaries and enter into Public Private Partnerships as may be required for the implementation of the smart cities programme
xii. Enter into contracts, partnerships and service delivery arrangements as may be required for the implementation of the Smart Cities Mission.
xiii. Determine and collect user charges as authorised by the ULB
xiv. Collect taxes, surcharges etc. as authorised by the ULB