Decision

That the Executive Director for Transport:

1. Approves the re-profiling of the City Region Sustainable Transport Settlement (CRSTS) and Investment Fund (IF) associated with the MetroWest Phase 1 project, as per table below;

Funding Re-profile (in £m)

FY 25/6

FY 26/27

FY 27/28

FY 28/29

Total

CRSTS

Previous

£6.436m

£20.780m

£0.000m

£0.000m

£27.216m

Current

£5.755m

£5.880m

£15.587m

£0.000m

£27.216m

Movement

-£0.681

-£14.901m

£15.587m

£0.000m

£0.000m

Investment

Fund

Previous

£0.000m

£0.000m

£9.657m

£0.000m

£9.657m

Current

£0.000m

£0.000m

£0.000m

£9.657m

£9.657m

Movement

£0.000m

£0.000m

-£9.657m

£9.657m

£0.000m

Note: above are changes to capital funding only, there are no changes to revenue funding.

1. Approves the re-baselined programme milestones associated with the MetroWest Phase 1 project, as per table below;

Change to Milestones

Previous Approved

Current Proposed

Variance

Completion of Detail Design

22/12/2026

05/02/2027

1 month

Start of Main Construction Works

26/09/2025

28/04/2026

7 months

All Site Construction Works Completed

31/12/2027

06/06/2028

5 months

Scheme Opening and Start of Train service

31/03/2028

06/12/2028

8 months

Scheme Hand-back (Defect Liability)

31/03/2029

06/12/2029

8 months

That the Chief Executive Officer:

1. Approves the re-profiling of the Economic Development Fund (EDF) associated with the MetroWest Phase 1 project, as per table below;

Funding Re-profile (in £m)

FY 25/6

FY 26/27

FY 27/28

FY 28/29

Total

Economic Development Fund

Previous

£0.000m

£33.327m

£19.203m

£0.000m

£52.530m

Current

£0.000m

£0.000m

£52.530m

£0.000m

£52.530m

Movement

£0.000m

-£33.327m

£33.327m

£0.000m

£0.000m

Note: above are changes to capital funding only, there are no changes to revenue funding