Agenda item

Report of the City Surveyor.

The Committee considered a report of the City Surveyor on the Finsbury Circus Garden Reinstatement project. The Director of Open Spaces informed the Committee that as a result of Corporate funding commitments, the Resource Allocation Sub-Committee had decided that many projects, including the Finsbury Circus Garden Reinstatement, would be deferred pending the fundamental review. Members expressed disappointment at this decision and agreed that the report would be agreed in principle subject to funding approval by the Recourse Allocation Sub-Committee when appropriate. 

Members discussed the importance of Finsbury Circus Garden as the largest open space within the City of London and noted the reputational impact of its closure for over 10 years. The Deputy Chairman noted the length of time that Finsbury Circus Garden had been closed and requested further details on the criteria used when deciding the allocation of funds. A Member replied that the criteria had been agreed by the Policy and Resources Committee and noted that reputational risk was listed as a component of these criteria. It was suggested by a Member that the Director of Open Spaces argue for funds on the basis of reputational impact to the City of London Corporation caused by the continued closure of Finsbury Circus. The Director of Open Spaces commented that while the funding was subject to a Fundamental Review the reputational risk and external funding sources would hopefully support the project progressing.

It was noted by a Member that the Gross cost on page 38 of the report was helpful but suggested that in future the Net cost be added in a non-public appendix.

RESOLVED- That: -

1. The recommencement of work on the project and Fees for procuring a new consultant team in the total sum of £136,450 be approved; and
2. That the changes below be noted;

·         The estimated increase in the project value from £5,274,800 at GW3 to £6,171,500 at this GW.

·         These increases are as a result of change requests included into the scope, totalling £728,800 as detailed in appendix 4.

·         Abortive fee costs incurred of £65,246.

·         The provision of a sum for paying the remainder of consultant Stage 3 fees (£35,137) for Stage 3 into the Risk Register to cover costs if consultants demonstrate they are entitled for further payment.

·         Uplift in fees in total project cost by £167,907.

·         Note change in project timeline key dates in Appendix 3.

·         Note that Crossrail are obliged to provide an interim landscape as part of their works to exit the site. Therefore, Finsbury Circus Gardens will be re-opened to the public as soon as possible, in accordance with the City of London (Various Powers) Act 1900 until a contractor is appointed to build the garden and pavilion.