Next step for Midland Metro extension
Plans to extend the Midland Metro into Centenary Square and regenerate the area will take another step forward if plans are approved by cabinet.
The cabinet report asks approval to release further Enterprise Zone resources to enable the continued development, which will complement the wider Paradise Circus redevelopment programme.
Cllr Tahir Ali
It asks for approval for prudential borrowing of £3m to fund the development work, which is part of the budget identified in the Enterprise Zone Investment Plan, approved by cabinet in July 2012.
It is the first major infrastructure project brought forward through the Enterprise Zone Investment Plan, supporting growth and investment in the city centre.
Funded through the Greater Birmingham & Solihull Local Enterprise Partnership (GBSLEP), the Enterprise Zone is made up of 26 key investment sites across the centre of Birmingham, with the potential to create 40,000 new jobs and boost the local economy by £2 billion.
Councillor Tahir Ali, cabinet member for development, jobs and skills, said: “Centenary Square is one of the largest public spaces in the city and this project will deliver public transport to two key sites - Paradise Circus and Arena Central. This will help link people to new employment opportunities; provide an alternative to driving; and connect people and the business community to mainline train stations.”
The plans will go before cabinet on Monday 17 February 2014.
