Decision details

Approval for resourcing of the Oxford Street project.

1.         That approval is given to the funding package set out in the Financial Implications and the Council’s commitments within it which are to:

a)   Approve the virement of £1.3m from the Parking Services budget to the Oxford Street and West End Partnership projects as outlined in this paper. In line with the financial regulations, the virement is over £1m and therefore requires authorisation from the Leader of the Council

b)  Approve the carry forward to the next financial year if this full allocation is not spent in 2016/17.

c)   Delegate the financial approval for expenditure of up to £1.3m revenue funding to the Executive Directors for City Management and Communities and Growth, Planning and Housing, so that resources can be recruited and work can commence on the project as soon as possible.

The approval of the proposed resource expenditure will allow the commissioning of further studies and traffic modelling, as well as key project resources, both of which are required for the project to progress.  
 The Cabinet Member for Business, Culture & Heritage requested that any appointment to the Oxford Street team is subject to consultation and informal agreement with him.