Southwark (Parliament Politics Magazine) – Southwark Council has approved £5m in Section 106 funding from Old Kent Road developments, supporting local infrastructure and community projects.
When developments are approved, local authorities and developers enter into legal agreements known as Section 106 agreements, which provide funding for enhancements to local services.
The new BL1 express bus route known as the “Bakerloop” route in Southwark will connect stations and locations that resemble the planned expansion of the Bakerloo Tube line. It will stop at places including Old Kent Road and Burgess Park.
The service is a component of the Superloop network development by Transport for London (TfL) and will operate between Waterloo, Elephant and Castle, and Lewisham.
TfL conducted stakeholder and local consultations earlier this year over the planned new bus service and discovered that most of the responses were favorable and that the ideas were generally accepted.
Daily hours for the BL1 service are 5 a.m. to 12.30 a.m.
From Monday through Saturday, there will be five buses each hour; on Sundays, there will be four buses per hour.
According to TfL, the new service will be introduced this autumn.
A council report states that the funds obtained from the Section 106 agreements account for about 14% of the overall cost of providing the service over a seven-year period.
The report went on to state:
“TfL will commit the balance of the funding required. The funding will be subject to a grant award with TfL. Should the service cease to operate, Southwark would be entitled to reclaim funds not spent.”
How does Southwark Council ensure transparency in fund allocation?
The council produces Annual Governance Statements, which explain the decision-making, budget decisions, and financial performance of the council, and provides public access to these documents.
The council is scrutinized and overseen on a regular basis by committees such as the Overview and Scrutiny Committee, Audit Committee and Governance and Standards Committee. These committees will raise questions about the council’s spend and policies, and oversee the council.
There are open council meetings that are streamed live, and residents can attend. These meetings provide residents with the opportunity to observe discussions about the allocations and engage in discussions. The council has a clear framework for making decisions and a constitution, both of which support openness and clarity of financial delegation and accountability.