Decision details

To provide Cabinet with an update on progress with this project and budget implications.

RESOLVED (unanimously) that the Cabinet:

1)  Noted the contents of this report, will provide continued support for the Metro West Phase 1 Rail Project and acknowledged its links with the Getting around Bath and Keynsham Transport Strategies.

2)  Noted the possible capital cost over-run and made a commitment to revenue support for the first three years of operation.

3)  Noted the possible revenue reversion risk.

4)  Made a consideration in the medium term financial plan for any of these emerging financial pressures.

5)  Noted the timetabling works required in relation to Metro West phase 1 and its impact on the Saltford Station proposal.

The preliminary Business Case illustrated that the project has an excellent Benefit to Cost Ratio over a number of options and therefore has a strong likelihood of receiving funding. In addition the Business Case was subjected to an independent review in accordance with the (then) West of England Local Transport Body Board Assurance Framework.

Funding approval has now been indicated and the anticipated formal offer letter from the WoE LEP, for £8.8M development costs up to and including 2017/18, is expected around spring 2016.

The project has reviewed, with Network Rail, a number of detailed timetable options to optimise the use of rolling stock and provide a regular service across the West of England. These are detailed in the Preliminary Business Case, and will be selected and built upon in the Outline Business Case.