Croxley Rail Link
24 February 2015
Hertfordshire County Council and the project's partners will continue to discuss how the financial contributions for the rail link could be ascribed. The Department for Transport will then make an official recommendation to ministers who will make a decision.
London Underground has indicated that it would be prepared to lead the project and has agreed that it would take responsibility for all project risk, subject to agreement of a total scheme budget. This includes the risks associated with the capital cost of the scheme and fare box revenue funded borrowing. This is a significant move and takes all financial risk away from the County Council.
Terry Douris, Cabinet Member for Highways, said: "The continued discussion about the best way forward for this rail link is encouraging. Hertfordshire County Council is actively working together with our partners to try and find a workable solution for the delivery of this project. After yesterday's Cabinet meeting, we hope that this ongoing negotiation will result in a positive result for the people of Watford and the wider area."
Notes for editors
Hertfordshire County Council, Hertfordshire Local Enterprise Partnership, London Underground, Network Rail, Watford Borough Council and Three Rivers District Council are working in partnership to deliver the project.
Hertfordshire County Council was encouraged by the Department for Transport to take on and progress this railway scheme at a time in the 1990s when the railway industry, both in the public and private sector, was struggling. The county council has had significant success in getting the scheme to a stage where construction can start.