Growing Places Fund – Potential funding models Julian Ware Transport for London Friday 30 March 2012

Why does Growing Places matter? Significant development expected across London, with a need for infrastructure Limited conventional funding/finance Developer contributions, CILs,Ezs These require –Packaging –Multiple negotiations –Risk handling –Some non commercial finance 2

Fitting out Woolwich station Players –TfL, GLA –A major developer (Berkeley Homes) –A borough (Greenwich) –Government £70 million or so of finance Funding from fares, borough CIL, return to developer 3 Bid in preparation

Crossrail: Woolwich Station 4

Extending the Northern Line to Battersea Players –TfL, GLA –Wandsworth, Lambeth –The administration/the purchaser of the site –Government £900 million cost, £600 million of finance needed EZ (Business rates for 25 years), Borough CILs/106, major developer contributions, fares Too large for current fund?

4/22/ October Current Public Transport Accessibility

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8 Transport Accessibility with NLE

Improving access to Elephant and Castle tube station Players –TfL,GLA –Southwark –Major developers Costs in £100 million to £200 million range Funding from Borough CIL, developer contribution Early days