Approval of the allocation of S106 funding and the approval for the adoption of capital budgets in respect of the following projects:

• Brick Lane Regeneration;
• Hackney Wick Station Improvements;

A13 Commercial Road and Watney Market Public Realm and safety Improvements.

DECISION

1.            To approve the allocation of £2,380,080 of S106 funding to the projects set out in Table 1 of the report and profiled in the Project Initiation Documents attached at Appendices A to C to the report and as set out below:

a)            Hackney Wick Station Improvements: £1,000,000

b)            Regenerating Brick Lane: £985,280

c)            TfL Commercial Road A13 and Watney Market Urban Realm and Safety Improvements: £394,800

2.            To approve the adoption of capital budgets in respect of the projects set out in the three PIDs and incorporate them into the Council’s capital programme. The capital budgets equate to:

a)            Hackney Wick Station Improvements: £1,000,000

b)            Regenerating Brick Lane: £589,000

c)            TfL Commercial Road A13 and Watney Market Urban Realm and Safety Improvements: £394,800

3.            To approve entering into a funding agreement within the London Legacy Development Corporation (LLDC) for the Hackney Wick Station improvements project.

Action by:

CORPORATE DIRECTOR, DEVELOPMENT AND RENEWAL (A. DALVI)

(Service Head, Planning and Building Control (O. Whalley)

(Acting Service Head for Economic Development (A. Scott)