Poynton Relief Road, Final Approval to Underwrite Funding Gap, Appoint Winning Contractor and Submit Final Business Case
Meeting: 10/09/2019 - Cabinet (Item 50)
PDF 292 KBTo consider a report which seeks approval to submit the final funding application to the Department of Transport to release funding towards the construction of the Poynton Relief Road. The report also seeks approval to award a contract to deliver the scheme, and seeks confirmation of the Council’s previous commitment to underwrite any shortfall in funding.
The appendices to this report will be considered under Part 2 of the agenda.
Minutes:
Cabinet considered a report which sought approval to submit the final funding application to the Department of Transport to release funding towards the construction of the Poynton Relief Road. The report also sought approval to award a contract to deliver the scheme, and sought confirmation of the Council’s previous commitment to underwrite any shortfall in funding.
The appendices to the report contained detailed information relating to the awarding of a contract. The appendices contained commercially sensitive information and would be considered in Part 2 of the meeting.
RESOLVED
That Cabinet
1. delegates authority to the Council’s S151 Officer to sign off and submit the submission of the Scheme Final Business Case to the Department for Transport, seeking a contribution of £16.4M towards the total Scheme cost;
2. delegates authority to the Council’s S151 Officer to sign off and submit the submission of the Scheme Final Business Case to the LEP seeking a contribution of £5.6M towards the total Scheme cost;
3. notes the underwriting of the developer contributions and Asset sales to the Scheme of up to £9.7M in the event that the anticipated developer contributions and Asset sales are not realised; and
4. authorises the Executive Director of Place in consultation with the Deputy Leader to undertake all necessary preparatory works in advance of the final funding decision including the advance vesting of land within the Compulsory Purchase Order, at risk, in order to ensure that the Council is positioned to deliver the scheme if a favourable funding decision is received.