Neville Summerfield, Birmingham City Council cabinet member for regeneration, has called for the design of the park to be value engineered to reduce the cost from £18 million to £12 million.
The move follows the park’s failure to make the final shortlist for the Living Landmarks competition last month (AJ 25.10.07), which will hand out grants of between £10 million and £25 million next week.
The council has yet to secure funding for the park, and said it was willing to put forward £7.9 million of its own cash, although it will rely on £3 million of private sponsorship.
Speaking to the Birmingham Post, Summerfield said: ‘It was very disappointing we were not shortlisted in our bid for £25 million… the competition was very strong.
‘We expect that a lot of our partners will be anxious to contribute to the £3 million shortfall. I understand there is the possibility of substantial funding coming from a partner source, although I am not going to announce that today. Things are looking extremely positive.’