Improved areas for people to walk and cycle are set to be brought to Brighton city centre after a successful bid for £6 million.
Brighton & Hove City Council submitted a business case to the Coast to Capital Local Enterprise Partnership (LEP) in December 2018 requesting funding to support phase three of its Valley Gardens scheme.
This set out the significant economic benefits to be gained from the proposed £7.84 million redesign of the Old Steine to Palace Pier area including:
The Council revealed this week that it has now secured £6 million from the LEP’s Local Growth Fund. This is money from central government awarded to Local Enterprise Partnerships for projects that benefit the local area and economy which cannot be spent on any other projects or services.
The LEP requires the Council to contribute funding for the project of at least 15% of the project cost, with the remaining £1.84 million coming from local contributions and potentially private sector development contributions.
A formal funding agreement with the LEP will shortly be signed with the aim of delivering the Phase 3 scheme in 2020. In accordance with the terms of the agreement, the £6 million funding from the LEP must be drawn down completely by March 2021.
Councillor Gill Mitchell, chair of the Environment, Transport and Sustainability Committee said: “We are very pleased to have been successful in our bid for funding for the Valley Gardens Phase 3 scheme. Securing funding from the Local Enterprise Partnership marks a critical point in the project’s programme. Approval at committee on 7 February will allow officers to proceed to the detailed design stage and work towards delivering the scheme by 2021, in accordance with the funding agreement.”
Jonathan Sharrock, Chief Executive at Coast to Capital said: “The Coast to Capital Board were delighted to discuss the Brighton Valley Gardens Phase 3 project at its meeting on Tuesday 22 January, and to confirm Local Growth Funding of £6 million. We are committed to supporting a successful scheme with long term benefit to the city, and will discuss the terms of our grant with the Council.”