A council has agreed to give £200,000 to help with the costs of a college’s new higher education centre – but only on a payments by results basis.
Tresham College, in Windmill Avenue, Kettering, had asked for the money to offset the costs of a complete remodelling of its top floor, which has been turned into a new business academy and higher education learning facility.
When Tresham was looking to sell its old site in St Mary’s Road for housing in 2011, Kettering Council accepted £200,000 to remove a convenant on the site which barred non-educational buildings from being put up there, and the authority said it would re-invest the money back into the college at a later date.
Kettering Council’s Executive Committee met yesterday (Wednesday) to discuss Tresham’s request, and councillors said that as the authority’s financial position has become more precarious over the past year, they will release the money on a payment by educational results basis.
The council and college will meet in the coming weeks to discuss the details of the decision.
Tresham’s ambitious plans to remodel its top floor include a higher education sixth form and business academy, which will run courses backed by Dragon’s Den star Peter Jones.
Speaking during the meeting, principal Stuart Wesselby said that he felt the college needed somewhere for older learners to study.
Speaking after the meeting, he said: “These are plans that will take Tresham forward.
“We would have liked the money in a lump sum, but I think the council have to be sensible.
“We have to be very careful how we spend public money.”