Decision details

The Cabinet will be asked to:

(i)  approve proposals in respect of the securing of £10m loan funding from the GLA’s Local Enterprise Panel to build a new road in Stage 2 of Barking Riverside, which would expedite development by releasing further housing plots, three new schools and a new District Centre; and

(ii)  approve the proposed business case and associated funding package for the extension of the London Overground Gospel Oak to Barking line extension to Barking Riverside.

Cabinet resolved to:

(i)  Agree the £10m loan from the GLA on the terms set out in the report and delegate authority to the Chief Executive, in consultation with the Head of Legal and Democratic Services, to negotiate and conclude the Grant Funding Agreement;

(ii)  Agree to join and enter into a call off contract under the framework agreement established by the London Highways Alliance Contract (LoHAC);

(iii)  Authorise the Chief Executive, in consultation with the Cabinet Member for Regeneration, the Head of Legal and Democratic Services and the Chief Finance Officer, to negotiate and award the contract and complete the necessary legal agreements associated with the delivery of the new road; and

(iv)  Delegate authority to the Divisional Director of Regeneration, in consultation with the Head of Legal and Democratic Services, to enter into a deed of variation to the Section 106 Agreement with Barking Riverside Limited on the terms set out in the report.