Decision details

Decision to ratify allocations and variations proposed by the Leicester and Leicestershire Enterprise Partnership.

a)         That the City Council acts as lead accountable body for the Midland Mainline Market Harborough Improvement Scheme, subject to legally binding funding guarantees from the statutory accountable bodies to the two other participating Local Enterprise Partnerships.

b)         That, subject to the agreement and entering into of the relevant legal agreements, the City Council agrees to underwrite the £3m of Local Growth Fund that the LLEP expects to receive for its own contribution, in the event that agreements with Network Rail have been entered into and the Government does not continue to pay the Local Growth Fund as expected.

c)         That the scheme be added to the capital programme, in the sum of £13m.

d)         That the City Barrister and Head of Standards be authorised to enter into the necessary legal agreements.

Three Local Enterprise Partnerships (LEPs) expect to receive some £13m of Local Growth Fund (LGF) monies from the Government for improvements to the Midland Mainline at Market Harborough, as part of their multi-year Growth Deals up to 2020.

The improvements are intended to deliver shorter journey times through Market Harborough and enable improved service frequency and resilience.

Not to approve to underwrite the LLEP funding and not to act as the lead accountable body for the scheme.