The Final Business Case for the Tram to Newhaven is now online.
- The plan is that the line can be funded by ticket income (from the existing and extended line) and dividend income from Lothian Buses. This means that there should be no impact on day-to-day services. There is an argument, however, that the ticket and dividend income could have been used in a better/other way.
- The construction cost is £156.7m.
- Taking into account a number of factors, it is estimated there is a 80% chance of delivering the project for £207.3m or less.
- A second study showed that there is a only a 61% chance of delivering the project for £207.3m or less…. and there is a 80% chance of delivering the project for £257.3m or less. The Council is therefore proposing a contingency fund of £50m.
- If the project were to cost £257.3m it is estimated that there will be £1.25 of benefit for every £1.00 spent.
- There are three votes needed to approve the project: (1) Transport & Environment Committee, (2) Finance & Resources Committee & (3) Full Council.