Cabinet is being asked to set the ball rolling for the transformation of Snow Hill Station and its surrounding area.
The Snow Hill Growth Strategy will set out a proposal focused on the redevelopment of Snow Hill Station and the surrounding business district area in order to maximise economic growth, supporting the Snow Hill Masterplan adopted by the council in 2015.
A report due to go before cabinet on November 15 asks members to accept £2 million of ring-fenced capital grant funding from the Government, which will be administered through the Greater Birmingham and Solihull Local Enterprise Partnership (GBSLEP) to support the development of the strategy, with the council adding a further contribution of £0.631 million.
Cabinet is also being asked to approve the commencement of tendering activities for external professional services support to develop the strategy.
Councillor John Clancy, Leader of Birmingham City Council, said: “This is a hugely important step forward in the regeneration of this key city centre district which will maximise its potential and enable us to make the most of the opportunities available to help boost growth in Birmingham.
“These are very exciting times for our city and I am pleased that we are able to accept this funding from the GBSLEP, enabling us to move forward in developing this strategy.”
Simon Marks, Greater Birmingham and Solihull LEP board director, said: “The growth strategy provides a bold and exciting proposal for how Birmingham can continue to grow its thriving business and professional services sector. The Snow Hill district is already recognised as a burgeoning financial hub.
“This development will put in place the building blocks for a global business and financial centre. The GBSLEP is working closely with the private sector to create the conditions to ensure that firms have everything they need to thrive here.”
The cabinet report can be found here.