Costing the M4 Park & Ride is highly speculative, however the plans developed for the Southfield proposal give an indication. It should be noted however that the scheme presented by the Conservatives to the Council Cabinet in November 2007 included many uneccessary items.
The capital costs indicated for the 2007 scheme were £19 million paid for by capital grants from central and regional government. £ 7 million of grants had already been obtained by the Lib Dems at the point the scheme was cancelled.
The scale of the scheme was relatively small compared to the Conservative's contemporary plans for a £67million new town hall.
The scheme included a number of elements which were expensive or unneccessary:
We anticipate that a new scheme at a different site could reduce these capital costs.
The running cost of the scheme was given as £275,000 a year. However the figures used for this calculation assumed a low rate of traffic interception based on the intercept of all such schemes and failed to look at the intercept rate of Park & Ride schemes located close to the traffic flow as this scheme would be.
We anticipate that a scheme located close to the M4 could intercept a higher proportion of traffic and consequently generate more revenue that the plan suggested.
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Page date Jan 11