Castlefield Estate Regeneration project

Corrigendum - Castlefield Estate Regeneration Project Insert into section Vll.2 – Other additional information. Red Kite Community Housing (Red Kite) refers to the Contract Notice and the procurement documents which were made publicly available on publication of the Contract Notice. Red Kite has made a decision to revise its financial standing requirements in its selection questionnaire document for this procurement. The objective reason for this change is that the minimum requirements set out by Red Kite in the initial procurement documents did not adequately reflect the impact of the effects of the coronavirus pandemic. To reflect the significant influence that the pandemic may have had on the financial position of individual contractors and the ability therefore to provide reliable and meaningful financial testing, the well-established financial metrics set out in the procurement documentation have been finetuned by removing the requirements for Profitability Growth and Growth in Turnover assessments. By doing this, it reduces the maximum possible score from 35 to 25 points. The previous pass score was set at 52% of the maximum, and this has been mirrored in the revised approach to a pass mark minimum of 13 points, below which economic operators would be excluded.