To consider the above report

Members considered the funding recently allocated to the council from the third Local Enterprise Partnership (LEP) Growth Deal and the requirements and next steps. The report confirmed that the council had been allocated just over £3m subject to the completion of a satisfactory business case. The original bid for funding had focussed on the Maidenhead Missing Links strategy to improve connectivity for pedestrians and cyclists  between the town centre and areas to the north of the A4. The recommendation was to develop the necessary business cases and prepare plans for implementation in liaison with the appointed Joint Venture development partner.

Councillor D. Evans explained that trying to produce better facilities around the proposed transport interchange was complicated because access to land was difficult. A number of large office blocks in the area had recently been re-let. Councillor Rankin explained that the money was originally allocated for the transport interchange but it had proved very difficult to make the business case work in terms of the cost/benefit ratio required by the LEP. However, the position had now shifted  to take into account the transport benefits alongside employment  opportunities and the wider implications for the regeneration project.  In doing so there was a greater chance of meeting the cost/benefit ratio and therefore being able to access the LEP funding. The Strategic Director commented that he believed the likelihood was now 50/50.

Members noted that the standstill period for the Joint Venture partner would last until 18 April 2017. Once this was over, discussions would take place with the appointed partner. Discussions with network Rail would also be required as if a viable scheme was needed, all land would need to be secured. This would involve the re-provision of parking. If the business case could not be met the council would lose access to the funding and costs would fall to the taxpayer. It was noted that there may be other opportunities to access funding in future.

Councillor Saunders commented that the figure of £3,084,000 should be listed in the 18/19 column in table 4. Along with the £6m and £2m for the Kidwells bridge, this funding was not yet part of the approved budget but was sitting in the indicative cash flow for 2018/19.

Councillor D. Wilson commented that he welcomed the improved access but felt there were some aspects missing, for example recreating road access by the side of the police station up to Blackamoor lane, and a right turn at the bottom of Shoppenhangers Road.

Councillor Dudley commented that the initial indication of the growth deal 3 was significantly less than that which was ultimately received. He wished to record his thanks to Councillor Bettison, who had written to the Secretary of State on behalf of the Berkshire authorities and had succeeded in getting higher funding.

RESOLVED UNANIMOUSLY: That Cabinet Regeneration Sub Committee notes the report and:

          i)       To note the funding recently allocated to the Council from the third Local Enterprise Partnership (LEP) Growth Deal and the requirements and next steps.