Funding boost for Northampton’s local communities
West Northamptonshire Development Corporation (WNDC) and Northampton Borough Council have signed an agreement which will result in major investment in local community facilities.
Since being established, WNDC has secured nearly £50million in developer contributions to infrastructure, through section 106 agreements related to planning permissions. The funding is transferred to relevant bodies, including the local authorities, so it can be invested in local infrastructure spanning transport, education, healthcare and community facilities.
Following the signing of an agreement with Northampton Borough Council, the Corporation can start to transfer some funding to the Council so it can be invested in the town.
WNDC’s Chief Executive Peter Mawson said: “It’s vital that we support Northampton’s growing communities by investing in infrastructure ranging from new roads and schools to parks and leisure facilities. So far we have secured nearly £50million in developer contributions to infrastructure and there is more in the pipeline. It is just one of the ways we are raising funding to invest in Northampton’s future”
Councillor Richard Church, Cabinet Member with responsibility for planning and regeneration, said: “This is really good news for communities across Northampton as it ensures that any new building and development brings with it much-needed funds which we can use to improve our parks and community facilities for the future.”
By using a standard charge system, WNDC has been able to negotiate significant levels of developer contributions to infrastructure when it determines planning applications. This includes over £9million for the 450 home Grange Park scheme, as well as £8.7million for the 550 home Princess Marina Development in Northampton. Nearly £50million has been secured to date, which will be collected during the course of new developments. Almost £4million has been received so far.
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Categories: Northampton