Issue - meetings

A report was considered that recommended giving financial approval of £450,000 of additional Getting Building Fund (GBF) funding to scheme 2.37 Bracknell: A322 A329 Corridor Improvements for Birch Hill Junction Upgrade. 

BLTB had approved the allocation of funding for this part of the scheme in March 2021.  The £450,000 had been returned to the funding pot following a reassessment of a previously approved skills project and as GBF projects needed to fully delivered by 31^st March 2022 the funding needed to allocated quickly to a scheme that could be delivered within the required timescale. 

The project would deliver upgrades to signalling equipment at the Birch Hill Junction and the scheme represented a relatively small-scale investment in the replacement of obsolete, and failing, signalling technology at the junction to improve resilience in the strategically important transport corridor.  The scheme was an increment to the already approved Local Growth Fund Bracknell project.  The additional GBF would take the total funding allocation for the scheme to £850,000.  A full business case had been submitted and considered by the LEPs Independent Assessor.  The scheme had a BCR of 2.33 representing High value for money and was recommended for full financial approval.

Members considered the report and asked whether the scheme promoter was confident it could be delivered by the end of March 2022 deadline.  In response, representatives from Bracknell Forest Council confirmed they were ready to mobilise quickly if approval was given.  After due consideration, the recommendation to provide the additional funding was approved.

Resolved –  That scheme 2.37 Bracknell: A322/A329 Corridor Improvements be given full financial approval for an additional sum of £450,000 in 2021/22 for the Birch Hill Junction Upgrade on the terms of the funding agreement set out at paragraph 11 step 5 of the report. This brought the total funding for the project to £850,000.