Agenda item

This report was not available at the time of agenda publication and will be circulated separately.

The Committee received a of the Director of the Built Environment addressing three project issues relating to the Bloomberg Development Highway Work.

In response to questions the Committee were advised that the mansion House had been consulted on the improvements to ‘The Grid’, and also the trees indicated on the diagrams would be severely cut back and wouldn’t take up as much space as it appeared.

RESOLVED – To

a)            Authorise Officers to progress the highway boundary adjustments shown in Appendix 3 including any statutory procedures and any legal agreements required. Authority to consider any appeal / objection and to determine whether or not to proceed be delegated to the Director of the Built Environment (in consultation with the City Solicitor);

b)            Agree to the sum of £673,800 as payment to achieve equality of exchange (to be confirmed by the City Surveyors) and that this sum be used to carry out the approved but previously unfunded highway works at Queen Victoria Street, Bucklersbury and Walbrook (see Appendix 2);

c)            Agree a sum of £70,000 from City Cash to fund improvement works on the private land immediately in front of the Mansion House known as “The Grid” as set out in Appendix 2 (subject to approval of Recommendation (i) below);

d)            Agree that the highway improvement works referred to in Recommendation (b) above, be re-programmed to commence in February 2017, to meet Bloomberg’s timetable aspirations subject to the equality of exchange payment being made prior to any costs being incurred by the City, in advance of the highway boundary adjustment procedure being determined and at Bloomberg’s risk;

e)            Note the arrangement set out to manage water run-off and agree a voluntary payment from Bloomberg of £326,200 to be used to fund a five-year enhanced maintenance programme around the building with the proviso that this sum also be utilised as a contingency to meet any costs overrun on the highway works (subject to a separate Issues Report to increase the project budget if necessary);

f)             Agree that the detail of the enhanced maintenance programme be delegated to the Director of the Built Environment; and

g)            Authorise the City Solicitor to enter into necessary arrangements to secure the voluntary payment £326,200;