Derby to hear if bid for 'levelling up' cash was successful in next six weeks
Earlier this year the City Council put in a bid for cash for three projects
Council bosses in Derby will soon find out if they will receive millions of pounds of funding for a new theatre, luxury hotel and a major regeneration project in the city centre.
Earlier this year Derby City Council submitted bids to the Government for significant cash to help regenerate three city centre locations in what was described as “massive” projects for the city
The bids made to the Government’s Levelling Up department included money for a new theatre at the Market Place, a new hotel complex at the redeveloped Becketwell site and cash to help redevelop the Friar Gate Goods Yard site which has stood empty and derelict for years.
In total the authority is hoping to receive almost £50million to get the three projects off the ground. Whether all three bids will be successful or not is a matter of time will tell.
Local authorities across the UK were told to submit their bids earlier this year. Levelling Up means different things for different areas but the essence of the Government scheme is to boost places with funding to help boost productivity, jobs, pay and living standards.
This week the Local Democracy Reporting Service contacted the Government who said a decision on the bids is expected to be made within the next six weeks or so.
A Government spokesperson said: “Decision on Round Two will be made by the end of the year”.
The new theatre at the site of the former Assembly Rooms is seen by council bosses as a “catalyst” project to drive more people into the city centre. The new 150-bed hotel on the redeveloped Becketwell site is seen currently as the missing ingredient needed to complete the development and attract visitors to the city.
And funding for the Friar Gate Goods Yard site is said to be needed to help unlock the site’s potential as a residential, business and public realm space. Part of the project could also see the historic Friar Gate Bridge back into use for the first time in decades.
Council chiefs at Derby City Council approved to submit the bids at a meeting held in July. Council leader Chris Poulter said: “These are three submissions that are potentially massive for the city to unlock three development sites that for decades have been unused and been a blight on the city.”
On Wednesday (October 26) new Prime Minister Rishi Sunak told the House of Commons that he would support Levelling Up process despite previously saying the UK was faced with a “profound economic crisis”. Mr Sunak has just re-appointed Michael Gove as Secretary of State of Levelling Up which would appear to indicate commitment to the scheme.
A Derby City Council spokesperson said: “We are currently awaiting an update on our bids for Levelling Up funding and are hoping to receive this in the near future.”