Purpose

To seek authorisation to amend the methodology of commuted sums calculations associated with street lights, traffic signs and traffic signals.

Decision

The Executive Director (Place) and the Executive Director (Resources and Partnerships) in consultation with the Cabinet Member for Regeneration and Economic Development and the Cabinet Member for Resources are recommended to: -

a)    Approve the changes to commuted sum charges for Traffic Signals and Street Lighting assets adopted by the Council following Section 38 and Section 278 agreements with developers or with residents entering into a Private Street Works Code to bring a road up to an adoptable standard.

Alternative options considered

Not amending the commuted sums calculations was considered and rejected as the existing methodology is linked to the remaining length of the PFI street lighting contract which has been reducing each year and now only provides financial cover for a short period, this would create a financial pressure on Council budget in the future to cover maintenance and electrical costs.