Agenda item

To note the content of the report and, in particular, the decision of the Grand Committee in relation to the three projects referred to and the sum to be set aside for the provision of new schemes in 2019/20.

         The Sub-Committee considered a report of the Chamberlain concerning the allocation of funding for new schemes in 2019/20 and the funding of three projects, namely, works to the Minories car park, the replacement of street lighting equipment and the refurbishment of Golden Lane Estate playground which had been considered and approved by the Grand Committee earlier that day.

RESOLVED – that it be noted that:-

1.      the unallocated balance of £2.192m from the 2015/16 City’s Cash provision for new schemes had been retained centrally to partially offset the one-off additional funding provided from central reserves for two critical IT upgrade projects;

2.      approval had been given by the Grand Committee to:-

a.    a total of £6m being set aside in 2019/20 to provide for new schemes (£3m each for City Fund and City’s Cash);

b.    the allocation of funds totalling £4.524m from the On Street Parking Reserve as follows:-

·         £454k to meet the cost of urgent works and additional surveys to mitigate structural defects to the Minories car park, subject to requisite approvals by other committees; and

·         £4.070m to replace existing street lighting equipment with LED lights and a new wireless central management system, subject to further development of the solution including widening of the scope to include links to ‘Smart City’ initiatives in advance of authority to start work.

c.   an estimated £216.5k of S106 funding received from the Fann Street Development be allocated towards the cost of refurbishing the Golden Lane Estate playground.

3.      further phases of the Barbican Highwalks scheme might need to be deferred as a result of prioritising on street parking reserve funds to the street lighting scheme.