Issue - meetings

[ Report of  the Interim Strategic Director for Planning, Regeneration and Development. To be introduced by the Cabinet Member for Housing, Planning and Regeneration.]Update on the infrastructure and placemaking programme in Tottenham Hale, including the allocation of Strategic Development Partnership receipts through a Funding Agreement to deliver key infrastructural works.

The Cabinet Member for Housing, Regeneration and Planning introduced the report, which sought approval for the Council to enter into a funding agreement for a key infrastructural project, realignment of the Bus Station at Tottenham Hale. This project would unlock key development sites to enable more affordable housing and enable the overall delivery of a new Tottenham Hale District Centre.

The report set out required changes to the location of the Bus Station and associated enabling, which would make the road less complex for better use by cyclists and pedestrians and allow for the development of the new District Centre in line with the Tottenham Area Action Plan. The report further explained how this will work, and the additional spend that would be required.

Cabinet noted that the increased scope of works, and hence costs would be met through pre funding of section 106 and anticipated land receipts, along with an increased grant allocation from the GLA’s Housing Zone programme.

In response to questions from Cllr McNamara, Brabazon and Carter, the following information was noted.

§  The Cabinet Member outlined that the cost of the scheme had increased largely due to the increase in the scope of works. The benefit of the works would reduce the footprint of the Bus Station, in turn freeing up more land for housing units. When considering plans for the Bus Station with TFL and Council transport engineers, amongst other required improvements, it was found there was a need to allow right-hand turns into the new north entrance to the Bus Station, include provision of new traffic signalling, complete significant upgrades to the junction of Watermead Way, provide new bus laybys relocated from within the bus station itself, along with the widening of Watermead Way itself. Therefore, re-alignment of the bus station had grown into a bigger scheme to accommodate the changes required. It should be noted that the changes to the Bus Station result in overall timesavings to busses using the Stations due to enhanced operational flexibility.

§  The Cabinet Member indicated that the capital allocation for this scheme was in the budget papers considered by the Overview and Scrutiny Committee.

§  In relation to due diligence undertaken on the scheme, Argent Related, the Council’s development partner , went out to the market with a scope of works required to realign the Bus Station and through this process were required to obtain best value. The most competitive value obtained was £7.165m for the scope of works for which funding will be granted. In relation to funding being sought from the Council, this was capped at the above figure and there was a transfer of risk from the Council to Argent Related as the development partner responsible for delivery of this scheme. Argent Related will ,therefore, be responsible for any cost overruns and can only draw down funding on evidence of spend being provided.

§  The Cabinet were advised that, as this was a funding agreement between the Council and a third party [Argent Related]  ...  view the full minutes text for item 176