Purpose

As part of a joint project with Keynsham Town
Council priority regeneration projects to improve the town centre
have been identified. The Keynsham Riverside and Temple Street
Vacant Units refurbishment is one of the priority projects and this
decision seeks to approve the funding needed to implement the
scheme.

Decision

(1) 
To delegate approval
to the Director of Sustainable Communities, in consultation with
the s151 officer, to accept £690k Investment Fund capital
grant from the West of England Mayoral Combined Authority to
support the delivery of the Keynsham Riverside Vacant Units
Refurbishment.
 
(2) 
To fully approve
capital expenditure of £2.34m to deliver the Keynsham
Riverside Vacant Units Refurbishment, to allow the project to
proceed to delivery on site. Including the WECA grant above, the
balance being from Council service supported borrowing from
Commercial Estate Refurbishment, repayable from revenue income
generated.

Reasons for the decision

This decision brings a long-standing vacant
unit back into productive use, responds to strong public support
for more diverse high street offerings, and unlocks £690k in
external funding. It also delivers economic, environmental, and
community benefits aligned with Council priorities.

Alternative options considered

Alternative options such as doing nothing,
selling the units, or reducing refurbishment specifications were
rejected. The preferred option maximises grant funding, supports
regeneration, and ensures long-term sustainability.