Agenda item

Report of the Director of the Built Environment.

Please note that Appendix G to this report is exempt.

The Sub Committee considered a report of the Director of the Built Environment regarding the Aldgate Highway Changes and Public Realm Improvement Project.

During discussion, reference was made to the following –

·         The Pavilion would be in operation 7 days a week and managed by the operator of the facility.

·         As part of the detailed design stage, full consideration would be given to designing out the nuisance and risks from skateboarding.

·         The podium drainage repair project that was currently being undertaken at the Barbican would not be delayed as a result of this project.

·         The project had received full approval from Transport for London.

·         Due to the size and significance of the project, the Sub Committee would receive progress every 6 months.

·         Officers were content from a design perspective that the north/south cycle route was fit-for-purpose.

·         Officers agreed it would be sufficient to insert parking bays on just one side of the Minories.

The Sub Committee considered that in addition to the £6M contribution from TfL that the balancing figure be delivered through a combination of S106 funding and potential future CIL receipt, as opposed to S106 funding only.

Members noted the comments made by the Open Spaces and City Gardens Committee that the ‘Middle Specification Option’ excluded some highly desirable features of the project and it was therefore agreed to recommended that the ‘Full Specification Option’ should be approved but at the same cost of the ‘Middle Specification Option’ of £18.7M.

RESOLVED – That,

a)    the Full Specification Option be approved, at a cost of £18.7M;

b)    authority be given to fund this project utilising a combination of TfL funding and S106 funds as set out in Appendix G and CIL funding;

c)    authorisation be given for £10M to be set aside from the OSPR account to act as an underwriting sum for this project, which will only be drawn upon to address temporary shortfalls in S106 funding - This authorisation shall be progressively reduced as S106 and CIL funds are committed to the project.; 

d)    authority be delegated to the Director of the Department of the Built Environment to renegotiate the S106 agreements highlighted in Appendix G such that the funds as set out may be utilised for delivery of the Aldgate Project (subject to consultation with the Comptroller and City Solicitor);

e)    the revenue implications (see Appendix I) for the initial five years following construction be met through S106; and

f)     the future revenue budget increases for the following 15 years should be funded by draw down against future CIL.