Monday 10 June 2002 7.04pm
Your questions raised some important points which certainly worried me and I'm happy to be able to report that my own concerns have been now been completely resolved.
The E&C SRB was allocated in 1999 with a 7 year life-span. The Council acts as 'banker' to the programme, paying the money out against pre-agreed objectives and targets. The funds are re-imbursed to Southwark Council
by the London Development Agency, who monitor the the performance of partnerships across London. Failure to deliver against the agreed targets, objectives or schedules, can mean resources being withheld and possibly re-allocated to other priority areas. I'm sure that the Council would like to have been given 25M in 1999 but sadly it doesn't work that way.
A large chunk of the 25M (about 10M) was focussed on transport and infrastructure which has now been delayed by the SLR situation. But the Balance
(allocated to local social, community, business support, education, employment and environmental projects) is spending in accordance with the agreed programme.
For me, the most exciting part of the E&C programme is the way that transport will be handled around the E&C area. The Council is undertaking a major study of the issues and I will be very interested to see what is proposed.
I understand that you can get more information about the current situation at www.elephantlinks.co.uk