Transport for London is proposing to reintroduce two vital funding streams for London boroughs from October.
The local implementation plan (LIP) and ‘Liveable Neighbourhoods’ funds were suspended earlier this year as Covid-19 wrecked TfL’s financial position (LTT 12 Jun).
Boroughs had warned that suspending the funds would pit council officer jobs at risk (LTT 15 May).
TfL says the funding streams will restart in October. A spokesman told LTT: “Our revised budget includes money to continue the Streetspace programme. Alongside this, and following feedback from boroughs, this also includes funding to allow boroughs to restart elements of their local implementation plan as well as other discretionary funds such as Liveable Neighbourhoods.
“The overall funding for boroughs within the TfL investment programme is £139m, which is an increase of £2m compared to our original budget (excluding Hammersmith Bridge, which is a further increase of £9m). Within this funding stream we have changed the balance between core LIPs funding and the new Streetspace programme to balance the mix between funding certainty through LIPs, while maintaining focus on Streetspace as a direct investment to support our response to the coronavirus pandemic.
“Once we have agreed the funding required from Government, the funding for boroughs will be divided between all 33 boroughs using the TfL funding formula that considers a variety of different metrics, such a population, safety and public transport access. This ensures that allocations are based on need.”
TfL’s Hammersmith Bridge spending includes building a temporary bridge for pedestrians and cyclists while strengthening work on the road bridge is underway. TfL’s expenditure is conditional on the Government providing funding for the lion’s share of the bridge strengthening works.
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