BOLTON’S housing chief is set to give the nod to release and access funding for crucial highways work at the Horwich Loco Works development.
Cllr Martin Donaghy is expected to authorise the release of cash for a vital link road planning application expected to cost around £350,000.
This will be temporarily underwritten, in part ,through the Large Sites and Housing Capacity Fund (LS&HCF) awarded by Homes England in 2016 to assist with delivery of the scheme,
And he will also give the green-light for the council to apply to “draw-down” from a £12m Marginal Improvements Fund (MIF).
This pot is part of the government’s Housing Improvement Fund (HIF) and exists to provide final or missing pieces of infrastructure to quickly “unblock” sites for development.
Permission to develop the 250,000 square metre site, including 1,700 homes and retail and leisure facilites was granted in September 2015.
But the council is still awaiting formal confirmation of the £12m government grant. But as the money can only be drawn down in May or November, an application must be made now to meet Homes England’s strict deadline for the delivery of 421 houses by 2021. It would also satisfy one of the pre-commencement conditions for the first draw down from the Marginal Viability Funding.
Council chiefs consider the Marginal Improvement Fund to be as good as awarded.
However, the strategy is not without risk as if the council is not ultimately awarded the HIF funding it would not be able to recover any money spent from LS&HCF or other pots.
Cllr Donaghy said: “Clearly if we are building at this level and this volume we have to have the infrastructure and the government has realised this by making this money available.
“This road is crucial to provide a new infrastructure within these homes and to take the pressure off the other roads in that particular area.”
The move has also been welcomed by Horwich North East ward councillor Kevin McKeon, who said the council had “worked very hard” to secure the government funding.
He said: “It’s really good news that the money is being drawn-down so that work can start and that can facilitate the development of housing on the site.
“Things are beginning to take shape and news about the road reaffirms the feeling that we are going to see the development of the homes and regeneration of the whole site.”
Horwich and Blackrod ward councillor Stephen Pickup echoed his comments.
He said: “It’s absolutely essential because it’s a road that goes through the site and would mean not all the traffic would come out within Chorley Old Road and Crown Lane.
“And it’s also needed for access for all the HGVs and construction vehicles. It’s essential that, once we get that money and planning application through, we get that road built as soon as possible.”