Agenda item

Gateway 5 - Cursitor Street / Breams Buildings Public Realm Improvements

Report of the Director of the Built Environment.

Minutes:

Members considered a Gateway 5 report of the Director of the Built Environment regarding Cursitor Street / Breams Buildings Public Realm Improvements and the following points were made.

 

·         The Director of the Built Environment noted that since the previous Gateway it had become clear that Breams Buildings required less intervention than anticipated, and Cursitor Street required more intervention than anticipated. Therefore it was proposed to move funds between the two projects within the same overall financial envelope.

 

·         The Chairman noted that the Chancery Lane Association was engaged with the projects.

 

RESOLVED, that Members,

 

·         Approve the proposed reconfiguration of current funding allocation for Cursitor Street (£240,934) and Breams Buildings (£239,832) a total of £480,766.  (Section 106 agreements require that the interest be used for the same purpose as the principal sum).

 

·         Approve that the existing funding allocation for Cursitor Street and Breams Buildings be reconfigured as follows: Cursitor Street (£371,647) and Breams Buildings (£109,119), a total allocation of £480,766. (Section 106 agreements require that the interest be used for the same purpose as the principal sum).

 

·         Agree authorisation to increase the current approved budget of £10,000 for Cursitor Street by £6,048 to cover the overspend as per Appendix 4, Table 1.

 

·         Agree authorisation to adjust the current approved budget of £40,000 for Breams Buildings to reflect the spend as per Appendix 4, Table 2.

 

·         Approve Authority to start work on Cursitor Street (Phase 1) at a total of £355,599, as detailed the funding strategy in Appendix 4.

 

·         Approve Authority to start work on Breams Buildings (Phase 2) at a total of £80,262, as detailed the funding strategy in Appendix 4. 

 

Supporting documents: