Flexible, Long-term, Consolidated Funding Sample Clauses

Flexible, Long-term, Consolidated Funding. Streams Initially operating within the existing regional frameworks, the DfT have welcomed our proposals to develop a delivery plan consistent with and integrating the various disparate funding streams and to align these with Leeds City Region transport priorities. Thus, working with DfT, HM Treasury and Yorkshire Forward, we will prepare a costed and affordable, 10-year implementation plan which will be aligned with a single, consolidated funding package based on existing allocations. Our new DaSTS Study on Leeds City Region Connectivity, which held its first Steering Group meeting on 14 October, will assist this process. To do this, after the next Spending Review, we will explore with DfT and HM Treasury: • working initially within relevant regional frameworks, review the Regional Funding Allocation (RFA) framework to ensure investment levels reflect the economic contribution of the Leeds City Region to the nation’s prosperity – and to identify how best to move towards a more cohesive approach to resource allocation; • how best to ensure that the City Region secures other regional funding including ERDF and Yorkshire Forward’s single pot; • how best to pool local funding, including LTP and the ITA levy; and • the potential for pooling private sector finance, including developer contributions. Whilst we acknowledge the immediate constraints on establishing a City Region funding package, we will work with Yorkshire Forward to shape the Regional Funding Allocation processes. We will both focus on the delivery of existing commitments within available funding, and will be ready to prioritise City Region investments resulting from scheme slippage elsewhere. We will ensure that investment in transport is aligned with and supports other Leeds City Region projects aimed at driving economic recovery and growth. We intend to explore the prospect for increased flexibilities in the use of designated capital and revenue funding streams. We are exploring with key partners the potential to progress the shared approach described here following the next Spending Review. This could comprise DfT, H M Treasury, Yorkshire Forward and the Government Office for Yorkshire and the Humber. It will be important to agree the Terms of Reference and scope of such a Group from the outset.
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