Decision details

Update report and agreement upon funding and operation of new multi-storey car park

The Executive Meeting considered proposals to fund the construction of a multi-storey car park next to Stockport Railway Station, and based on the information contained in the confidential appendices to the report has:

·         approved the Council in partnership with Muse Developments Ltd proceeding with the construction of a Multi-Storey Car Park (MSCP) of up to 1,054 spaces adjacent to Stockport Railway Station and the final head of terms with Network Rail be agreed to enable the draw down of the Department for Transport MSCP funding grant;

·         delegated to the Corporate Director for Corporate and Support Services and the Service Director (Place Development) in conjunction with the Executive Councillors (Policy, Reform and Finance) and (Economic Development & Regeneration) to work with Muse Developments Ltd to secure the most financially beneficial funding arrangement for the MSCP and to enter into all the appropriate agreements/ leases to enable the construction, funding and operation and use of the MSCP, and

·         noted and approved the process involved in complying with the Department for Transport and Network Rail requirements for drawing down the grant funding for the MSCP.

(Note: the report included information ‘Not for Publication’ contained within its appendices)

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