Purpose

Report to update on the funding and delivery
programme to temporarily relocate the operational bus depot to
enable Phase 1 of Stockport 8 to start on site and to secure
approval to enter into a delivery funding agreement with Greater
Manchester Combined Authority (GMCA)

Content

The Cabinet has
considered a report detailing the funding and delivery programme to
temporarily relocate the operational bus depot to enable Phase 1 of
Stockport 8 to start on site and has then agree that:-
 
(1) Subject to TfGM
securing approval from the BNC, approve the Council entering into a
funding agreement with GMCA as outlined in this report and using
the funding to deliver the temporary bus depot.
 
(2)  Authority be delegated to the Deputy Chief
Executive and the Director of Finance - Section 151 Officer, in
consultation with the Cabinet Member for Economy, Regeneration
& Skills to finalise the terms of the supporting legal
agreements outlined in the report and Confidential Appendix 2 along
with any other ancillary agreements and formally enter into the
documentation required to give effect to those such terms;
 
(3) Authority be
delegated to the Assistant Director – Governance to do all
things necessary or incidental to the implementation of the
above-mentioned resolutions.
 
(NOTE: An appendix to
the report contained information ‘Not for Publication’
that had been circulated to members of the Cabinet only).

Alternative options considered

Not to enter into a
delivery funding agreement or deliver a temporary bus depot. This
would delay the delivery of Stockport 8 Phase 1 until a permanent
new facility is secured and delivered by TfGM, anticipated in
2029/30. Delay to the delivery of Phase 1 would result in
substantial inflationary cost pressure potentially rendering the
scheme unviable and would place the £41.3m GMCA Good Growth
funding secured at risk. Delay and the implications to scheme
viability would also impact the repayment profile of the
Council’s investment to date into Stockport 8.