Purpose

1. To note an update on the overall project
progress to date, remaining programmes, current immediate works,
revised ongoing Project risks and further new asset condition
findings.
2. To note the new revised estimated Capital funding requirements
to fully stabilise the critically identified New Cut River Walls to
mitigate the high Priority identified risks.
3. To seek approval to continue to progress the works as reported
and fully recommended.
4. To seek approval for the additional reallocation of capital
funding, with one proposed new investment option recommended.

Content

That the Committee for
Transport and Connectivity:
1.
    Noted the update progress
to date, current remaining programmes, current immediate works and
further new asset condition findings and associated
risks.
2.
    Authorised the Executive
Director for Growth and Regeneration, in consultation with the
Chair of Transport and Connectivity committee to take all steps
required to proceed with the works, including procuring and
awarding contracts over the key decision threshold, as outlined in
the funding strategies options in the report.
3.
    Approved an additional
capital investment of £8.217m to enable completion of York
Road emergency repairs, emergency works on The Gateway and Goal
Ferry ramp and provide funding for further investigation on the 3
newly identified failing assets to enable further designs and
proposals developed in FY25/26 – FY26/27.
4.
    Noted the long term
£10m of capital investment required for each of the 5 years
from FY26/27 to FY30/31. This proposed new long-term strategy
option will provide for and mitigate for future “known and
unknown” high risk strategic river wall assets, which will
ensure that the authority meets its ongoing statutory duties by
taking an ongoing risk reduction based dynamic approach.
5.
    Noted the ongoing
structural corporate risk and noted the escalation to regional and
central Government to seek further funding to reduce and mitigate
the risk.