Budget to get rubber stamped at Derby Council
Derby city centre's regeneration could be awarded a £17.3m boost from councillors next Thursday (15 December). The city's full council is being recommended to approve capital spending measures concerning regeneration, the enterprise zone, housing schemes and major infrastructure developments as its three year-budget plan is revealed.
The full council meeting will review the proposed capital spending programme, which totals a budget of £239.8m.
Among the proposals is a £17.3m slice for the city centre's ongoing regeneration, and the revival of other "key" areas.
Derby's local transport plan has been allocated an £18.8m boost to help fund improvements to the highway network as well as major schemes like the London Road Bridge replacement.
A further £12.6m has been put aside for property maintenance of the Council’s buildings and infrastructure.
All of the allotted capital investment has been taken from the council's budget for 2012/13 and 2014/15.
Despite major budget cuts to local government, Derby City Council is being recommended to commit £49.2m to its leisure strategy which will include a new 50 metre swimming pool, a multi-sports arena and athletics track.
The council's housing programme will be granted £34.8m over the three-year period.
Cash will be used to refurbish council-owned houses and will replenish Housing General Fund schemes to provide homes and assistance to vulnerable householders, disabled facilities grants, other repairs and assistance in the private sector as well as support for affordable housing.
Derby City Council's strategic asset management board received "a number of bids for additional capital funding" totalling £36.2m, states the council report.
Seven of these bids are top-ups to the existing programme, while nine – totalling £15.8m – are new.
Among the new proposals are funding for the enterprise zone and regional growth; Derby Station's building frontage improvements; Stores Road depot refurbishment and the city centre regeneration framework.
Full Council will be recommended to approve the capital programme for 2012/13 and the indicative programme for 2013/14 and 2014/15 at its budget setting meeting on 15 December.
