Agenda item

Report of the Chamberlain.

(TO FOLLOW)

The Sub-Committee considered a report of the Chamberlain proposing the release of funding for six schemes previously agreed for progression outside of the fundamental review, and consideration be given to one new scheme.

RESOLVED, that:

·         The Walbrook Wharf M&E replacement project be added to the list of schemes agreed for progression outside of the fundamental review;

·         The allocation of central funding of up to £8.863m to allow the 7 schemes listed in Table 1 to progress, subject to the requisite gateway approvals, be approved;

·         It be agreed that £400k is to be met from the On Street Parking Reserve and £8.436m from the general reserves of the relevant funds;

·         It be noted that of this sum, £5.5m relates to the allocation of additional central City Fund resources for the police;

·         Approval be sought of the Finance Committee and Court of Common Council to allocate up to £8.463m from reserves of the relevant funds;

·         It be noted that this year’s capital funding bids will be initially assessed against the existing prioritisation criteria pending new criteria to be developed via the fundamental review.