East Northamptonshire Council’s plan for an £8m enterprise centre in Raunds will take up the bulk of the authority’s funds and leave just £1.5m in reserves.
Plans for the centre at Wharf Park off the A45 will go before the council’s planning committee on Wednesday (Dec 12).
The 62m-long centre will provide 36,850 sq ft of space, with a three-storey flat roof building for office units and an L-shaped single story building for business starter units. It will feature glass, brick and timber and the three-storey building will be split into two parts joined by a glazed link.
A spokesman for the authority said: “Approximately £8m has been earmarked in this current year’s capital programme and development pool for an enterprise centre to be created in the district.
“At this point in time, it is anticipated that approximately £5m will come from reserves with the remaining balance funded from borrowing or other sources.
“The final budget package is still being worked up and will be presented to council for consideration and decision in early 2019.”
The lead local flood authority has asked for more information from the council before it can decide whether the development is acceptable.
The project has been in development for several years, the council says, to ensure it is able to meet demand for quality office space in a facility fit for the future.
Sarah Ward, Local Democracy Reporting Service