RESOLVED:
1. That three Business Cases for transport infrastructure projects to the EM3 LEP be submitted, in order to bid for capital funding from the Local Growth Fund, namely:
· Brooklands Accessibility (Elmbridge)
· Quality Bus Corridor improvements (Guildford)
· A31 Resilience (Guildford)
2. That Surrey County Council’s share of required remaining local contribution [matched funding], up to a maximum of £0.612m towards the A31 Resilience scheme be approved.
Reason for decisions:
Inadequate transport infrastructure is identified as the biggest barrier to economic growth in the county. If the bids are successful, the EM3 LEP would contribute up to 75% of the capital scheme cost, with the remainder to be provided as match funding. In terms of match funding, working with Elmbridge Borough Council together with bus operators within Guildford, a significant amount of match funding has been identified for two of these projects as follows;
· Brooklands Accessibility (Elmbridge) - the match funding has been fully funded through Elmbridge Borough Council Community Infrastructure Levy (CIL).
· Quality Bus Corridor improvements (Guildford) - the match funding has been fully funded through the bus operators.
· A31 Resilience (Guildford) - the proposed match funding is a mixture of £0.700m that has already been spent on emergency repairs during the summer of 2017, subject to LEP approval that this spend can be counted as match, and additional capital contribution from SCC.
· If the £0.700m of match funding is not accepted by the EM3 LEP the A31 Resilience project may become a smaller project based on the funding available.
[The decisions on this item can be called in by the Environment and Infrastructure Select Committee]