11 projects backed for a share of £17 million town fund
WE TAKE A MORE DETAILED LOOK AT WHAT THE SCHEMES INVOLVE
Our vision is to make Loughborough a great place to live, learn, work and grow and provide opportunities for all. These projects will help us achieve that vision
Nik Kotecha, pictured
ELEVEN projects have won the backing of the board overseeing the spending of almost £17 million of government cash.
The Loughborough Town Deal board said business cases for each project will now be developed.
The board is co-chaired by Councillor Jonathan Morgan, leader of Charnwood Borough Council, and Dr Nik Kotecha, chairman of Loughboroughbased Morningside Pharmaceuticals.
Dr Kotecha said: “Our vision is to make Loughborough a great place to live, learn, work and grow and provide opportunities for all.
“These projects will help us achieve that vision and I would like to congratulate everyone for reaching this stage.
“I would also like to thank everyone for their positive commitment to the Town Deal and to working together for the benefit of Loughborough.”
The board also agreed to fund a revised Lanes and Links project.
It said projects were selected following a prioritisation exercise which con
sidered several factors including robustness of the business case, match funding, readiness to go, deliverability and impact on the town.
Three other projects have been put on a reserve list. They are:
■ Connected Loughborough – EastWest smart sustainable transport corridor;
■ Loughborough Developer Accelerator;
■ Parish Green Environmental Improvements.
A list of the supported projects will be submitted to the Ministry of Housing, Communities and Local Government. A final decision on funding for each project will be made by government following the submission of the business cases.
Decisions are expected over the next 12 months.
All projects are still in the development stage and therefore subject to change. Some contingency and project management funding is also included in the £16.9 million offer from government.