Interesting highlights -
A new Brent Cross Thameslink station. oddly this is not actually guaranteed as part of the scheme. It seems that the Barnet Taxpayer, rather than the developers are bearing the financial risk. The report says "A bid for capital funding is being considered by Cabinet on 25 February 2014 to fund this work. Should the station go ahead, this funding will form part of the overall project cost and will be recouped by the Council as a development cost. However, this funding will not be recouped should the station not go ahead as proposed.
Consequently, the budget and programme will be managed throughout 2014 to ensure that only the necessary work is undertaken in advance of securing a funding strategy. " Seems to me that yet again, the taxpayers is being taken for a ride.
Council to subsidise developers by bearing risk for funding land. The report says "It is currently envisaged that the Council will need to bear the CPO costs for land required for the Brent Cross Cricklewood South proposals. It is also envisaged that these acquisition costs will be recoverable from the Brent Cross Cricklewood South development in due course."
Why is it that in Barnet, it is always the taxpayer that takes the hit?