Agenda item

Stocksbridge Towns Fund

Report of the Executive Director, City Futures

Decision:

8.1

The purpose of this report is to provide the context for a recommendation to accept the government grant from the Department for Levelling Up, Housing and Communities (‘DLUHC’) of £24.1m, as part of the Towns Fund, and for the Council to act as the accountable body for this grant. This will fund the Stocksbridge Programme through further feasibility, design and delivery.

 

The report seeks an approval for the proposed additions and variations in the Capital Programme for Stocksbridge projects listed in Appendix 1. The report also outlines the strategy for the Stocksbridge Programme, and provides an update on the programme’s progress.

 

 

8.2

RESOLVED UNANIMOUSLY: That Strategy and Resources Policy Committee:-

 

1. Accepts £24.1m Towns Fund grant from DLUHC and approves for the Council to act as the accountable body for this grant; takes note of the terms and conditions of this grant, and the financial implications of this decision included within the section 4.2 of the report;

 

2. Notes that an application for South Yorkshire Mayoral Combined Authority (‘SYMCA’) Gainshare grant of up to £3m has been submitted for Manchester Road Placemaking (£2m) and Community Hub (£1m) projects of which £1.8m has been approved in principle to date (subject to a formal approval of Strategic Business Case in 2022/23 and Final Business Case by SYMCA Board in 2023/24). Section 4.2 sets out the risks if SYMCA Gainshare grant is not secured;

 

3. Approves the proposed additions and variations in the Capital Programme listed in the Appendix 1; and

 

4. Notes the strategy and delivery plans for the Stocksbridge Programme, included within the section 1.3.

 

 

8.3

Reasons for Decision

 

 

8.3.1

The Stocksbridge Town Deal provides a major opportunity to fund significant interventions to address current and future issues and challenges within the Town. The requirement on the Council to accept and manage the potential revenue implications of developing the new Library and Community Hub, and the ability to use CPO powers as a last resort, if negotiations cannot be concluded, are essential to deliver £24.1m investment programme in Stocksbridge.

 

 

8.4

Alternatives Considered and Rejected

 

 

8.4.1

Do nothing The Council could choose not to accept the Towns Fund funding from DLUHC. This would be a missed opportunity to regenerate one of City’s neighbourhoods. Fundamentally this is a once in a generation opportunity to address some key infrastructure problems faced by Stocksbridge with its unique geography and challenges, compounded by the pandemic.

 

Minutes:

8.1

The Executive Director City Futures submitted a report providing the context for a recommendation to accept the government grant from the Department for Levelling Up, Housing and Communities (‘DLUHC’) of £24.1m, as part of the Towns Fund, and for the Council to act as the accountable body for this grant. This will fund the Stocksbridge Programme through further feasibility, design and delivery.

 

The report seeks an approval for the proposed additions and variations in the Capital Programme for Stocksbridge projects listed in Appendix 1. The report also outlines the strategy for the Stocksbridge Programme, and provides an update on the programme’s progress.

 

 

8.2

RESOLVED UNANIMOUSLY: That Strategy and Resources Policy Committee:-

 

1. Accepts £24.1m Towns Fund grant from DLUHC and approves for the Council to act as the accountable body for this grant; takes note of the terms and conditions of this grant, and the financial implications of this decision included within the section 4.2 of the report;

 

2. Notes that an application for South Yorkshire Mayoral Combined Authority (‘SYMCA’) Gainshare grant of up to £3m has been submitted for Manchester Road Placemaking (£2m) and Community Hub (£1m) projects of which £1.8m has been approved in principle to date (subject to a formal approval of Strategic Business Case in 2022/23 and Final Business Case by SYMCA Board in 2023/24). Section 4.2 sets out the risks if SYMCA Gainshare grant is not secured;

 

3. Approves the proposed additions and variations in the Capital Programme listed in the Appendix 1; and

 

4. Notes the strategy and delivery plans for the Stocksbridge Programme, included within the section 1.3.

 

 

8.3

Reasons for Decision

 

 

8.3.1

The Stocksbridge Town Deal provides a major opportunity to fund significant interventions to address current and future issues and challenges within the Town. The requirement on the Council to accept and manage the potential revenue implications of developing the new Library and Community Hub, and the ability to use CPO powers as a last resort, if negotiations cannot be concluded, are essential to deliver £24.1m investment programme in Stocksbridge.

 

 

8.4

Alternatives Considered and Rejected

 

 

8.4.1

Do nothing The Council could choose not to accept the Towns Fund funding from DLUHC. This would be a missed opportunity to regenerate one of City’s neighbourhoods. Fundamentally this is a once in a generation opportunity to address some key infrastructure problems faced by Stocksbridge with its unique geography and challenges, compounded by the pandemic.

 

 

Supporting documents: