Purpose

Update on the Darwen Town Deal Programme including progress on the Town Centre Civic Quarter Development.

Decision

RESOLVED

(1)  That the progress made on delivering the Darwen Town Deal Investment Programme and the Darwen Town Board’s role in overseeing progress of its delivery be noted.

(2)  That it be noted that following protracted negotiations with the University of Sheffield, and due to prevailing financial pressures impacting the UK university sector, the University recently decided it could no longer go ahead with this project. The University expressed a desire to continue to support on-going developments but could not financially commit to this specific opportunity.

(3)  That it be noted that, following the approval of the Darwen Town Board on 30 June, the £2.8M of Town Deal funds allocated in support of the former Accelerator had been reallocated to the Town Deal’s Market & Civic Quarter Development.

(4)  That, following the decision above, it be agreed to re-allocate the Council’s approved £1.5M investment contribution in the former Accelerator project to the Town Deal’s flagship Market & Civic Quarter Development project, the defining project within the agreed Darwen Town Deal Investment Programme.

(5)  That the Council’s successful bid to the Arts Council’s Creative Foundations Fund be noted and that approval be given for the £990,000 in new funding, that had been competitively secured by the Council to support the upgrade of Darwen Library Theatre, a key element of the Market & Civic Quarter Development, to be added to the Council’s capital programme.

(6)  That it be noted, that once the Market & Civic Quarter scheme details were finalised, prior to mobilisation and start on site, a further Executive Board report would be submitted in the Autumn to consider and approve the delivery strategy, and to seek approval to drawdown funding from the Town Deal Investment Programme, and the Council’s agreed capital funding contribution.

(7)  That the role of the Council, as accountable body for the Darwen Town Deal; the Council’s commitment to co-invest up to £12.5M in capital funding support for the Town Deal Investment Programme; and the key role the Council performs in continuing to provide strategic advice, and programme and financial management support to the Board and the delivery of the Investment Programme, be noted.

(8)  That responsibility be delegated to the Strategic Director of Growth & Development and Director of Finance, in conjunction with the Leader of the Council and the Executive Member for Finance and Governance, to develop this scheme, and finalise the capital funding contribution from the Darwen Town Deal and Council, subject to further Executive Board approval in the Autumn.