Issue - decisions

Resolved:    i)     That Cabinet agree to earmark £10m from the Economic Infrastructure Fund for York Central, with £0.5m allocated immediately to advance the scheme in respect of support/technical work, and the remaining £9.5m subject to a more detailed report back to Cabinet in early 2014. 

ii)       That a further detailed report be presented to Cabinet, early in 2014, setting out the full financial implications, risks, technical details, aspects of phased development and the mechanisms/legal relationship between CYC and network rail for a profit-sharing approach.

Reason:     i)       To facilitate the development of the York Central site by closing the final viability hurdle.

ii)       To give certainty to Network Rail that CYC is committed to this expenditure in principle.

iii)      To ensure that there is a level of detail agreed about project outputs/outcomes before monies are expended.

iv)          To allow preparatory work to commence.