Decision

That the Executive Director of Transport:

1)     Approves the draw down of the remaining £30.43m of allocated City Regions Sustainable Transport Settlement (CRSTS) capital funding to the MetroWest Phase 2 programme and reprofile the spend as shown below:

Pre 2025

2025/2026

2026/2027

2027/2028

2028/2029

Total

CRSTS Capital

CRSTS Capital

CRSTS Capital

CRSTS Capital

CRSTS Capital

CRSTS Capital

Current

£0

£4,500,000

£0

£30,073,308

£356,692

£34,930,000

Proposed

£0

£14,776,794

£20,153,206

£0

£0

£34,930,000

2)     Approve the draw down of the programme’s full allocation of £1.2m of CRSTS Capacity and Capability revenue funding, to enable an operational agreement to be signed with Great Western Railway.

3)     To reprofile allocated Investment Fund capital spend as shown below:

Pre 2025

2025/2026

2026/2027

2027/2028

2028/2029

Total

IF Capital

IF Capital

IF Capital

IF Capital

IF Capital

IF Capital

Current

£5,825,000

£0

£3,417,000

£662,000

£0

£9,904,000

Proposed

£4,596,895

£0

£0

£5,307,105

£0

£9,904,000

That the Chief Executive Officer:

4)     Approves the reprofile of allocated Economic Development Funding (EDF) into future financial years as shown below:

Current profile:

Pre 2025

2025/2026

2026/2027

2027/2028

2028/2029

Total

EDF

EDF

EDF

EDF

EDF

EDF

BCC

3,162,000

£6,032,000

£0

£0

£0

£9,194,000

SGC

£11,857,000

£22,620,000

£0

£0

£0

£34,477,000

NSC

£686,000

£1,309,000

£0

£0

£0

£1,995,000

Revised profile:

Pre 2025

2025/2026

2026/2027

2027/2028

2028/2029

Total

EDF

EDF

EDF

EDF

EDF

EDF

BCC

3,162,000

0

£1,699,513

£3,553,494

£778,993

£9,194,000

SGC

£7,203,517

0

£6,373,452

£13,457,788

£7,442,243

£34,477,000

NSC

£686,000

0

£368,776

£813,150

£127,073

£1,995,000