Purpose

This report seeks approval for the provision
of £1m from the Council’s capital expenditure
programme, across two financial years (2023/2024 and 2024/2024) to
support the development of an updated Business Case focussed on
major improvements to Stratford Station. This builds on the work
which has already been carried out to produce the Strategic Outline
Business Case which established a range of options for potential
improvements.
 
The updated business case will be submitted to
the Department for Transport (DfT) by
March 2025 with a proposal to implement and deliver major changes
to the station to improve passenger experience. The updated
business case will identify a single preferred concept which will
be recommended to government for further development. It will also
request funding from government of at least £10m for future
stages of project development, with the potential to also request
funding for land acquisition to deliver the scheme.
 
If the London Borough of Newham approves this
contribution, the London Legacy Development Corporation (LLDC) have
committed to allocate £1.25m funding towards the development
of the updated business case. Transport for London (TfL) and
Network Rail (NR) are each contributing £1m of funding.

Decision

Decision:
 
For the reasons set out in
the report and its appendices Cabinet RESOLVED to Agree:
i) 
To approve the allocation of £1,000,000
to London Legacy 
Development Corporation to match fund the delivery of an updated
Business Case for the long-term redevelopment of Stratford
Station.
ii) 
To delegate authority to the Corporate
Director of Inclusive Economy & Housing in consultation with
the Lead Member for Inclusive Economy, Housing Delivery and Climate
Emergency, Performance and Transformation to agree the terms and
conditions of any relevant Agreements between all partners
including cash flow of the Council’s funding contribution to
the development of the business case to LLDC; and
iii) 
To endorse the Council’s continued
involvement in this project.
 
Alternatives
Considered
 
a) 
Two other alternatives have been considered as part of this
process:
· 
Do not contribute any financial resources, but continue to offer
support for the project: Whilst the project would be likely to
continue, with TfL, Network Rail and LLDC funding it, this would
reduce the total size of the available funding pot. This would
increase the risk of not being able to select a single preferred
option, and of the project ultimately stalling with government,
putting the delivery of multiple corporate objectives at risk. It
would also significantly reduce LB Newham’s influence in the
delivery of the next stage of work and in securing a station and
surrounding area that is aligned with the Council’s
priorities.
· 
Contribute a smaller amount of financial resources than other
Sponsor Group partners: Whilst some kind of contribution would
reduce the risk of non-delivery, as set out above, it would still
mean a smaller budget to identify a single preferred option. A
smaller contribution than those provided by other Sponsor Group
partners could also result in less influence in the delivery of the
next stage of work.