Newcastle-under-Lyme is to benefit from a share of a £1 billion fund to revitalise the nation’s high streets.
The Borough Council has progressed to the next stage of the Future High Streets Fund, a hugely competitive scheme designed to make sure town centres remain vibrant by helping them to attract new businesses, boost local growth and create new jobs.
It means the Council will receive up to £150,000 to develop detailed project proposals relating to the Ryecroft area in Newcastle town centre, building on initial plans submitted to the Government in March. In the next phase councils will be eligible for up to £25 million of capital to invest in the regeneration of the town centres. Bids can be up to £25 million but it is anticipated that awards are likely to be in the region of £5 million to £10 million.
Council leader Simon Tagg said: “We are delighted to be shortlisted in the Future High Streets Fund. As well as enabling us to progress a major initiative, it’s a clear endorsement of my administration’s strategy for the town centre. We’ve put regenerating the town centre at the heart of our Council plan, and have a clear and ambitious programme for change which includes breathing new life into the historic market, reviewing parking charges and installing new CCTV. We have taken every opportunity to communicate this ambition to Government. This award is the product of our clear strategic intent.
“I would like to thank Newcastle-under-Lyme Business Improvement District, Staffordshire County Council, Keele University, the Newcastle and Stafford College Group, Aspire Housing and our other partners for supporting both this bid and the Council’s efforts generally in securing improvements to the town centre.”
Amy Williams, BID manager, said: “We have been delighted to support the council’s bid to the Future High Streets Fund. On behalf of businesses in the BID area, the BID works closely with the council and other partners to encourage growth, development and investment in Newcastle. Future High Streets funding would be a significant boost for the town centre.”