Issue - meetings

(Member lead:  Cllr S Hinchcliffe, Head of Service: Liz Hunter)

Resolved:  That the financial position around the Transforming Cities Fund be noted.

The Authority considered a report of the Head of Transport Policy which provided an update on the Budget announcement in respect of the Transforming Cities Fund.

It was noted that the £1.7 billion fund was to support transport investment and the Chancellor had set out that half the fund would be allocated via competition for transport projects in cities and the remaining half allocated to the 6 combined authorities with elected metro mayors.

It was expected that guidance would be published in the New Year with bids to be submitted during Spring 2018.  It was proposed that a range of options for the bid be considered and developed with partners including the suitability of schemes which came forward in the ‘call for projects’ and those on the local prioritised corridors as identified in the HS2 Connectivity Strategy. 

It was noted that should a devolution deal be agreed for the region, the Transforming Cities Fund would automatically deliver significant additional capital investment for the Mayor to invest in transport.

A report would be brought to a future meeting once further details are known.

Resolved:  That the financial position around the Transforming Cities Fund be noted.