A £180,000 interest-free loan from the owners of the Newlands Shopping Centre will help pay for new bus shelters in Kettering.
Kettering Council on Wednesday, September 10, to approve the loan, which will pay for the replacement of the existing unpopular shelters in Newland Street.
Money had already been earmarked to replace the shelters in a section 106 agreement with the developers behind the West Hill residential development.
However, in the documents for the executive committee meeting, Kettering Council said this money was unlikely to arrive early enough to meet the wishes of the Newlands centre owners Ellandi to press ahead with the replacement of the shelters.
Ellandi has instead agreed to loan the council £180,000, which will be paid back in three equal instalments of £60,000 over the next three years.
The cost of the shelters is estimated to be £175,000 – so the loan includes a £5,000 contingency sum,
In the documents for last night’s meeting, Kettering Council said: “Public comment on the current shelters has been negative for some time.”
Speaking at the meeting, Alex Jelley, Kettering Council’s economic regeneration manager, said: “The aim is to replace the shelters with something a bit more modern and less enclosed.”
A timetable for the replacement of the shelters was not discussed at last night’s meeting.