Decision details

The report will be to update Cabinet on the business plan for the development of the new bus station and to agree the necessary next steps.  

Appendices 2 - 8 of this report are exempt from publication because they contain information of the kind described in paragraphs 14 and 21 of parts 4 and 5 of Schedule 12A to the Local Government Act 1972.

RESOLVED: that:

 (1)    the substantial progress made in recent months on the Central Bus Station project be noted and the proposed mixed-use scheme be agreed

(2)     in principle agreement be given to the proposed new funding model involving Welsh Government and Rightacres Property Ltd as set out in attached Confidential Appendices 2 & 3.

(3)     authority be delegated to the Director of Economic Development in consultation with the Cabinet Member for Investment & Development and the Cabinet Member for Finance, Modernisation and Performance, the Section 151 Officer and the Monitoring Officer to:

(i)      Negotiate and conclude all aspects of a final contractual agreement with Welsh Government and the developer for delivery of the new Central Bus Station in line with the principles set out in the Metro Delivery Partnership Heads of Terms presented in Confidential Appendix 3.

(ii)      Settle the final account with Rightacres Property Ltd for pre-development costs as outlined in Confidential Appendix 7.

(4)     authority be delegated to the Chief Executive, in consultation with the Leader of the Council to submit the Strategic Outline Case (SOC) attached as Confidential Appendix 6 to the City Deal project assurance framework process to start the process of securing a contribution from City Deal towards the costs of upgrading Cardiff Central train station.

To seek authority to enter into appropriate arrangements to deliver the bus station component of the new Cardiff Central Transport Interchange in order to facilitate a start on site early in 2018 based on a commercially driven funding solution.