Over the past year, the Project Team has been developing the RIFAS Outline Business Case, which outlines the need for the scheme, and the options appraisal (an analysis which includes cost, benefits and risks). The team is therefore now able to recommend a preferred option to take forward to detailed design stage.
The scheme received assurance for its Outline Business Case in August from the Environment Agency’s Large Projects Review Group. This group provides assurance and confidence that the team is developing a viable scheme that will achieve the planned benefits. The group also approved financial sign-off of £7 million for the next three-year period (detailed design phase). The detailed design phase incorporates all activities needed prior to construction.
The Outline Business Case is the culmination of three years hard work by the Project Team and collaboration with a variety of stakeholders. We’d like to take this opportunity to thank all those that have contributed to the scheme, and we look forward to continuing to work with you and others as the scheme progresses.
There is still a funding shortfall that we are working to bridge. Southampton City Council has committed a significant contribution to the scheme (read more in our Project News: Proposals Approved by Council) and the team is bringing onboard investment specialists to help identify and secure the required investment, as well as looking for opportunities to reduce costs through value engineering.
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