Strathclyde Partnership for Transport (SPT) will hold a meeting on Friday at which members will be asked to agree to lease the land for the long-awaited Park and Ride facility to North Lanarkshire Council.

David Fagan, SPT vice-chairman, believes the proposed lease agreement offers the best solution for all parties.

He said: "We have been working for some time on this project and this is a significant step forward. By working closely with North Lanarkshire Council, we've agreed that a lease agreement is the best way forward within a very tight budget.

"Residents and commuters have been incredibly patient regarding the new Park and Ride and we're grateful for that. Tenders have been issued and we expect a contractor to start around April or May. The car park should be ready on schedule later next year."

Funding of £5 million for the project was initially announced in March 2002 by the then Scottish Executive with an estimated completion date of 12 months hence.

Earlier this year, proposals for a multi-storey car-park were vetoed in favour of an extended surface facility. The design will provide around 700 spaces.

The revised plans offers lower capital, operation, and maintenance costs. It also means there is no requirement for a temporary parking area during the construction period as work will be phased, with the majority of the existing area remaining open for use.

SPT was charged with the design and planning of the Park and Ride and will also assume responsibility for construction.

Once the Park and Ride is complete SPT will enter into a lease with NLC for ten years with an agreement that the Council will maintain the car park.

Graham Mackay, head of roads and transportation with NLC, said: "We have been working very productively with SPT regarding the car park at Croy Station, and look forward to continuing to work them to agree and finalise arrangements. This car park will be a significant asset for North Lanarkshire Council."