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Decision details

Bond Street Public Realm Improvement Project

Decision Maker: Cabinet Member for City Highways, Cabinet Member for Finance, Property and Corporate Services, Cabinet Member for Business, Culture and Heritage

Decision status: Recommendations Approved

Is Key decision?: Yes

Is subject to call in?: Yes

Purpose:

Reporting of the results of consultation on the Traffic Management Orders and, subject to resolution of any objections, approval to commence implementation.

Decision:

1.            That approval be given for the final designs for the Bond Street Public Realm Improvement Project as shown on the Final Design General Arrangement drawings numbered 70009316-03-FD-01 to 07 (Rev A)  shown in Appendix B to the report.

2.            That Traffic Management Orders be made to introduce the revised parking and loading controls as shown on the Traffic Management Order drawings numbered 70009316-03-TMO-01 to 07 (Rev A4)shown in Appendix F to the report.

3.            That approval be given to implement the proposals in line with the Proposed Project Delivery Programme for the Bond Street Public Realm Improvement Project as set out in Section 8 of the report.

4.            That approval of expenditure is given equal to the total project value of £9.85m, set out in Appendix H to the report.

5.            That approval is given to the funding package set out in Appendix H to the report and the Council’s commitments within it which are to:

 

(a)  provide a budget of £9.85m for the entire project within the capital programme, receiving funds from the project partners of £7.8m and entering into contracts to deliver the scheme

 

(b)  to enter into a loan agreement with the GLA for £2m, guaranteed and repaid by the Council over a three year period post completion if separate funding is not secured via a business rates mechanism or similar for investment in the West End.

 

(c)   to provide £0.05m Section 106 funding.   

 

(d)  to cash flow the project from 2018/19 to 2020/21, as the full allocation of external funding is not received until 2020/21. The maximum cash flow requirement expected is £1m and this would be repaid within two years. 

 

(e)  to note that if the NWEC ballot is not successful in December 2017, £1.63m of funding will not be secured. The Council will have a number of options including ceasing the project, providing its own funding to complete the scheme or securing further private sector funding.

 

6.            That the Bond Street Project Board involving Westminster City Council, NWEC and TfL is delegated to have overall oversight over the project subject to reserved matters on the delivery and costs being referred back to the City Council for approval, as set out in the legal agreement with NWEC.

7.            That approval is given to complete the drafting of the legal agreements between the Council and NWEC so that their elements of the funding package can be secured and to agree terms with the GLA for accepting the loan from the Growing Places Fund. That the agreements are completed before any formal construction contracts are let or works commence.

8.            That the Cabinet Member for Business Culture and Heritage, the Cabinet Member for Finance, Property and Corporate Services and  the Cabinet Member for City Highways agreed recommendations 2.1 to 2.7 to the extent that the matters fall within their respective Terms of Reference.

9.            That Appendix H be treated as exempt from publication by virtue or paragraph 3  of schedule 12a of the Local Government Act 1972, as amended, as it contains information relating to the business affairs of the authority

10.         That the Executive Director of City Management and Communities be given delegated authority to make any additional minor changes to the Traffic Management Orders needed for the project and to make any necessary changes to the Bond Street Public Realm Improvement Project designs as presented in this report, in consultation with the Cabinet Member for Business, Culture and Heritageand the Cabinet Member for  City Highways and on condition that these changes do not exceed the overall approved capital expenditure of £9.85m.

Reasons for Decision

 

1.         The proposed highway modifications identified in the 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 Streets’ status as a global centre for luxury retail and the international art market.

2.         The initial stakeholder engagements in summer of 2016 indicated a strong support for the project. This support has continued through the consultations on the proposed changes to the parking and loading arrangements on Bond Street  required for the successful implementation of the proposed public realm improvements and on the  formal advertisement of the proposed Traffic Management Orders between the 6th and 27th January 2017. 

3.         The project and its delivery programme is crucial to meet the pedestrian demands resulting from the opening of the Elizabeth Line in December 2018. The project programme is therefore set to ensure completion prior to the Elizabeth Line’s opening.  The report is in line with the programme and content set out in the June report to Cabinet that will meet these expectations.

4.         This project will support the delivery of the adjacent Brook and Davies Street Two Way Project by virtue of the new right turn into Brook Street that the Bond Street Project will introduce which will allow traffic on Bond Street, taking advantage of the proposed two way traffic operation on Brook Street, to use an alternative route into the Mayfair area. The Bond Street Public Realm Improvement Project will also add to the benefits of other projects and schemes nearby such as Hanover Square and the developing Berkeley Square project.

Declaration of Interest

 

The Cabinet Member for Business, Culture and Heritage declared that he knows the directors and staff of the New West End Company, Lucy Musgrave and the directors of Publica as well as the directors of a number of landlords and businesses in the area.

Publication date: 05/04/2017

Date of decision: 05/04/2017

Effective from: 13/04/2017

Accompanying Documents: