Decision details

The Executive was reminded that, in July 2016, the Council had submitted an Expression of Interest to the EM3 Local Enterprise Partnership (LEP) for funding of public realm within Camberley Town Centre. The LEP had agreed that, subject to a successful business case, the funding bid for Surrey for this round of bidding would be the Surrey Heath bid for the public realm improvements. The Expression of Interest had sought funding of £3.5m from the LEP, with a local contribution of £1m.

Members were asked to consider the funding of the local contribution towards the Public Realm Scheme. It was recognised that developer contributions would be sought to fund these schemes but, in order to enable the works to proceed quickly, initially all of the funding would need to come from the Council.

It was reported that the Council had £700k in Community Infrastructure Levy and Section 106 contributions which could be used in Camberley Town Centre to fund this work. The remaining money would need to be funded from reserves or Public Works Loan Board borrowing.

The Public Realm scheme would provide improvements, including pedestrian priority, within the High Street and improvements to part of Princess Way and to Knoll Walk.

RECOMMENDED that

(i)          Local contributions funding of up to £1,000,000 be agreed for the Public Realm bid scheme; and

(ii)        contributions be phased over 2017/18 and 2018/19, with payment to be made upon commencement of the works.