Agenda item

The Sub-Committee considered a report of the Director of Built Environment seeking delegation for Officers to receive and manage any future funding from TfL for the works to Bank Junction.

RESOLVED – That:

-       the receipt from TfL of an additional £154K funding for the 2015/16 financial year be noted;

-       that as S106 funding previously approved for this project from 125 Old Broad Street (transport) and Mondial House (transport), £150K and £4K respectively, was substituted by the TfL allocation in 2015/16, that these S106 funds will  now be rolled forward into reaching Gateway 4 be noted;

-       the inclusion into the capital programme of a TfL funding contribution for 2016/17 financial year of £200K be authorised;

-       the total estimated budget needed to reach Gateway 4 of £1.179M

-       Authorise Officers to accept any further TfL funding allocations, specifically for the All Change at Bank project, in consultation with the Head of Finance, into the capital programme; replacing and rolling forward agreed s106 contributions, if applicable, up to the anticipated budget value of £1.179M.

-       the procurement route for additional design and traffic modelling services be noted.