Funding of £1.1 million approved for key projects in Sudbury and Hadleigh
Approval has been given for £1.1million of cash to be pumped into key projects in Babergh.
The seven-figure sum was collated as part of a pilot scheme, which featured Suffolk councils retaining 100 per cent of the business rates collected for this year, rather than sending 50 per cent to central government as usual.
The pilot means Suffolk’s authorities have an additional £11 million to invest, with Babergh and Mid Suffolk each gaining £1.1 million.
Development of the Hamilton Road quarter in Sudbury is set to get £500,000 of funding, while £200,000 apiece has been earmarked for work on the Delphi site and the Angel Court housing development in Hadleigh.
A further £60,000 will go into establishing an inclusive growth engagement officer, with £30,000 being put into forming a Central Suffolk Chamber of Commerce – a body representing business interests in the area.
At Babergh District Council’s cabinet meeting on Thursday, the five projects that will get the lion’s share of the cash were approved.
Councillor John Ward, Babergh District Council leader and cabinet member for finance, said: “Supporting projects through the funding provided by this pilot is key for the future growth of our community.
“I’m delighted we’ve been able to approve this money, which is earmarked for vital initiatives such as the Hamilton Road quarter in Sudbury and establishing a Central Suffolk Chamber of Commerce.
“With a total of £1.1 million to spend, I look forward to more great projects receiving funding from this pilot.”
Suffolk was one of 10 areas across the country selected for the pilot scheme, with county leaders hoping the pilot will be able to continue in future.
It is understood that central government has already ruled out allowing councils to keep 100 per cent of the rates in any potential scheme going forward, but 75 per cent retention could be an option.
Mid Suffolk District Council’s cabinet also approved the funding for its projects last week.
In July, the Suffolk Public Sector Leaders group, which encompasses all the council leaders and chief executives of the borough and district councils, alongside police bosses, outlined its vision for the £11 million.