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Oadby and Wigston Regeneration Project PDF 48 KB 11 Agenda Item 8 LEICESTERSHIRE COUNTY COUNCIL HIGHWAYS FORUM FOR OADBY AND WIGSTON 26 TH SEPTEMBER 2013 OADBY AND WIGSTON REGENERATION PROJECT REPORT OF THE DIRECTOR OF ENVIRONMENT AND TRANSPORT Purpose of Report 1. To update Members on the Oadby and Wigston Regeneration Project to improve Oadby and Wigston town centres. Background. 2. Oadby and Wigston town centres are currently in need of economic regeneration, which could be assisted by the enhancement of the local shopping environment. 3. Oadby and Wigston Borough Council and Leicestershire County Council together committed to investment in the town centres through a joint bid for funding from the European Regional Development Fund (ERDF) to assist in realising some of the aspirations set out in local master planning and local area action plans. Contribution Leicestershire County Council Highways 20.37% Better Places Fund 2.72% Oadby and Wigston Borough Council 11.78% Section 106 funding 2.41% ERDF Grant 62.72% Total 100.00% Current position 4. The ERDF has confirmed that the bid proposal for the Oadby and Wigston Regeneration project was endorsed on 19 August 2013, subject to contract conditions. It has therefore passed ERDF assessment and has progressed to the next stage of funding approval, which is the negotiation of a funding agreement stipulating the terms and conditions. 5. The ERDF approval amount is for 62.72% of the estimated total project cost, which is £520,732 based on the estimated total project of £800,250. This is subject to a formal offer on the execution of a funding agreement. Any expenditure incurred before a funding agreement is executed remains at the risk of the Borough and County Councils. 12 Next Steps 6. Discuss with local landowners where we propose to undertake improvement works on private property. 7. Raise awareness of the proposals with town centre businesses and consider the use of local information points, newsletters and council websites to raise awareness with the wider public in advance of the works. 8. Continue collaborative working to deliver the town centre improvements to the agreed timescales and budgets. The detailed design work will need to be completed by Christmas to meet the overall programme. 9. Robust auditable financial arrangements will need to be put in place that will satisfy ERDF requirements. Programme 10. Works are programmed to begin in both Oadby and Wigston town centres next year in May/June 2014 with much of the work being undertaken over the summer period and completed by the end of November. The programme endeavours to ensure that the improvement works are largely undertaken over the summer period and completed before the peak trade period at Christmas 2014. Officer to Contact Karen Notman Tel: 0116 305 0001 Email: [email protected] Background Papers None. .
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