Decision details

Bond Street Public Realm

Decision Maker: Cabinet Member for Finance and Corporate Services

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: No

Purpose:

Report to provide an update on the public realm scheme and to seek approval of loan from the GLA.

Decision:

That the Cabinet Member for Finance and Corporate Services gave approval to enter into a loan agreement with the GLA for £2m guaranteed and repaid by the Council from its own resources for a three year period post completion of the development.

Reasons for Decision 

1.            The proposed highway modifications identified in this report will improve the streetscape for pedestrians and provide a safe environment for cyclists.  They will deliver substantial improvement of the public realm and maintain Bond Street’s status as a global centre for luxury retail and the international art market.

2.          The scheme has a £2m funding gap, if the Council does not agree to the GLA loan then the scheme will not be able to progress.

 

Publication date: 23/12/2016

Date of decision: 23/12/2016

Accompanying Documents: