Council expects to hear on Corby's £25m funding bid by end of month
The town's bid wasn't named in yesterday's budget, but officials say it is still being considered
Officials say they expect to hear back on Corby's bid for up to £25m in regeneration funding by the end of March, after it wasn't included in yesterday's budget.
The town was among 101 places named as eligible for the Towns Fund by the Government last year, with a pot worth up to £25m for each area to drive long-term economic growth.
Yesterday's (Wednesday's) budget included details of 45 successful deals worth just over £1bn, with nearby Northampton getting the full £25m, but made no mention of Corby.
A Corby Council spokesman said bids were put in at different stages and therefore will be announced at different times, adding that they expect to hear back at the end of March.
And Corby MP Tom Pursglove said: "We have submitted our bid in one of the later rounds and I understand it is still under active consideration.
"As you would expect, I am fully supportive of it and am actively commending the merits of our proposals to my ministerial colleagues, with a view to securing as much of the £25m maximum award available, as possible.
"I genuinely believe we have a strong bid and I am excited about its potential to deliver the next chapter of our town’s regeneration story."
Corby's list of projects they hope to complete with the cash is made up of four schemes.
- A sixth form centre at Chisholm House in Queen’s Square using £9.5m from the Towns Fund and £10.1m of private funding.
- A multi-use space at the green space next to the Anne Street car park including retirement flats and a large community, youth and arts space. This had previously been earmarked for a Market Walk shopping extension. It will cost about £3.34m.
- A safe pedestrian and cycle route between the train station and the town centre along Oakley Road using £11.7m from the fund and £800,000 from S106 developer funds.
- The use of new technology to help monitor flows of pedestrians, cyclists, motorists, shoppers and visitors to help understand how to attract new green and ‘smart’ investors to the town. This will cost £405,000.
Northampton's £25m will be spent on a range of projects, including the redevelopment of the old Marks and Spencer and BHS buildings.
The other areas in the East Midlands to be named as getting Towns Fund cash in yesterday's budget were Newark, Clay Cross, Skegness, Mablethorpe, Boston, Lincoln and Mansfield.