Ideas submitted to Long-Term Plan for Towns investment fund
More than 100 ideas and projects have been submitted for the Long-Term Plan for Towns to help Newark’s regeneration.
Last year, the Government identified 55 towns to be awarded an investment of £20m over a ten-year period – and Newark was one of them.
A board has been created, made up of more than 75 people, such as business owners, residents, landlords parish council representatives, community groups, Riverside Trust, and Historic England, members of Newark and Sherwood District Council, Newark Town Council and Nottingham County Council – to consider schemes for investment.
The board must submit an Investment Plan for three years of grant funding for up to 2027 under the Long-Term Plan for Towns.
The investment differs from the Town Fund money whose focus had to be to drive the sustainable economic regeneration of towns to deliver long-term economic and productivity growth.
The board’s co-chairman, Penny Taylor, said: “The brief for the money to be spent focuses on the changes in the social fabric of local high streets.
We all have seen the change in shopping habits and the increased sales at retail parks and online shopping and this money gives Newark an opportunity to redevelop areas and reimagine Newark town centre in a different way.
We were clear the spending of this money needed to be community-led hence the wide range of people involved in the decision process.”
The programme offers funding up to ten years and is subject to review every three years.
The board received 137 ideas for spending and has listened to and considered several different proposals over the last six months.
The initial plan was to submit on August 1, however, they are awaiting a further date from the new government and will submit an Investment Plan when they are informed of their new timeline.
Co-chairman Louise Casey-Simpson said: We recognise the need for development in Newark and have used data and information provided by residents to Newark and Sherwood District Council through the surveys and consultations they have engaged in.
“It is clear people care and want to see the area developed, as do we.”
One criterion set by the Long-Term Plan for Towns is the proposal has to be fully developed and ready to be delivered, many need to develop through business cases or feasibility studies as part of their progress.
As with all projects, many proposals at this stage do not progress due to the business case stage identifying challenges that cannot be overcome.
Co-chairman Tony Aspbury said: “As a board, we would encourage the passion and vision that our partners portray.
“As chairs of the board, we will champion and provide information on the opportunities available and how we will work with our fantastic partners to deliver for our town, we will always aim to do this in partnership.’
“We are Newark, we love Newark, and we will work for Newark to improve it – please help us achieve this.”
Steff Wright, Gusto House and Newark and Sherwood United chairman, submitted plans to create a sustainable community stadium as part of one of 137 ideas submitted to the funding board.
