Combined Authority drawdown may kickstart March makeover
When they meet on Wednesday (30th March), members of the Combined Authority Board will be asked to re-purpose £586,205 of Future High Street Fund money to kick off the initial phases of the March Area Transport Study – MATS – Broad Street construction.
The money is for statutory works to get the project ready for construction – utilities coordination, preparation of tender documents and procurement.
Board members will also be recommended to approve the drawdown of £3,780,387 for the whole construction of the MATS’ Broad Street scheme, subject to the independent evaluation, sign off and approval the Combined Authority Board of the Full Business Case.
To help move things forward at pace, the Board will be asked to authorise Combined Authority officers to organise funding agreements with Cambridgeshire County Council, delivery partners for the MATS project.
If given, the Board’s approval will mean the next stages towards construction can begin, moving the project a step closer to construction which is in alignment with the Future High Street Fund project.
Mayor of Cambridgeshire & Peterborough, Dr Nik Johnson, said:
“The Combined Authority is massively committed to helping market towns like March develop greener and more people-friendly transport links that really serve the community, improving public areas, and giving space for walking and cycling.
“The Combined Authority has also funded the revamp of March’s historic railway station, along with regeneration of other Fenland railway services. Fenland, and its market towns like March, Wisbech and Chatteris, are top of the Combined Authority agenda for helping bring forward areas that have lost out on investment in the past.”
Board approval of the £3,780,387 will depend on the Full Business Case receiving independent evaluation and being signed off under assurance. This is scheduled for December 2022. Following assurance, £586,205 of the funds will be re-purposed back to the CPCA Future High Street Fund budget.
These proposals were considered by the Transport and Infrastructure Committee on 14 March 2022. Following discussion, the Committee resolved unanimously to recommend the proposals to the Combined Authority Board for approval.