Councillor Harman Banger presented the public
version of the i54 / Western Extension - Phases 4 and 5 Budget
Approval report. The report sought approval for the capital budget
for the remaining phases of the programme of work. The continuation
of the work on the i54 / Western Extension was good news for the
City as hundreds of jobs and opportunities would be created for
local people and the site would bring in large amounts of private
investment. In addition to this, once the lending had been
returned, the Council would receive a share of the business rates
from the site.
The corresponding private report was discussed
at Item 7, that contained information relating to the financial or
business affairs of the authority.
Council is recommended to:
1. Approve the capital budget for the remaining
phases of the i54 Western Extension programme of £22.75
million and the associated funding strategy outlined in the
2. Delegate authority to the Cabinet Members for
City Economy and Resources, in consultation with the Director of
Regeneration and Director of Finance, to approve any variations to
the i54 Western Extension supplementary budgets in the event of any
changes to external funding sources.
1. That it be noted that, in January 2019, Cabinet
approved the delivery of Phases 1 – 3 of the i54 Western
2. That it be noted that this report is a follow up
report from the January 2019 Cabinet report from which approval was
obtained to progress with the first phases of the i54 Western
Extension project with the recommendation that a further report
would be presented to Cabinet seeking approval to progress phases
4, 5a, 5b and 5c.
3. That the progress made in delivering the i54
project to date be noted.
4. That the progress made on the i54 Western
Extension project including the Access Road contract, progression
of design and preparations for the next phases of work and, key
outputs and delivery programme, be noted.
5. That the status of the funding strategy, key
delivery agreements and governance arrangements including, the
Joint Venture Agreement and Business Rate Retention Agreement with
Staffordshire County Council and South Staffordshire Council, be
6. That it be noted that delegated authority was
approved in the previous January 19 Cabinet Report to the Cabinet
Members for City Economy and Resources, in consultation with the
Director of Regeneration and Director of Finance, to approve a
series of key agreements required to progress the works in
accordance with the agreed funding and delivery
7. That it be noted that a key
constituent of the funding strategy is that any borrowing costs,
including interest are paid back from rates generated by the
Western Extension site.