18. Midland Metro Birmingham Eastside Extension
Presented By: Councillor Ian Ward
Decision:
(1) The progress being made on delivering the Birmingham Eastside Extension was noted.
(2) The increase in the estimated outturn cost for the project to £227.2m, which delivered a ‘benefit:cost ratio’ of 3:1 calculated in accordance with
WebTAG was noted.
(3) The final business case for the Birmingham Eastside Extension scheme was approved.
(4) The commitment of funding, as set out in the report, was approved, in particular:
(i) the commitment of £18.5m from the WMCA Investment Programme (HS2 Connectivity) for HS2 utility diversions (previously approved in October 2017) was confirmed;
(ii) approval for Prudential Borrowing up to £56.5m, to be financed from Metro revenues for the Birmingham Eastside Extension was confirmed.
(5) Authority was delegated to officers as set out in the report.