In September the Government announced that 100 towns would share a £3.6 billion Towns Fund.
“Tens of millions” of pounds will be invested into Keighley and Shipley over the next few years if a bid for funding is successful.
At a meeting of Bradford Council’s Executive this morning, members pledged to spend £324,000 to help draw up plans to access a £25 million grant from the Government’s “towns fund.”
In September the Government announced that 100 towns would share a £3.6 billion Towns Fund, with Keighley and Shipley named as beneficiaries in the Bradford District.
To access the money, communities and local Councils would have to “join forces to draw up ambitious plans to transform their town’s economic growth prospects with a focus on improved transport, broadband connectivity, skills and culture.”
Shortly afterwards, the Government awarded Bradford Council £324,038 to help draft plans on how to spend the money.
In Bradford Council’s 2020/21 budget, discussed this morning, it was announced that the Council will match this government grant with a further £324,000 to help develop regeneration and employment schemes for the two towns.
The Executive was told that the Council’s investment plan would be ready by summer, and officers were confident the bid for cash would be successful.
Council Leader Susan Hinchcliffe said: “We hope to be successful in this bid, but this is a competition for the cash.”
Steve Hartley, strategic director for place, said: “This is at the bid stage, but the expectation is that we will see tens of millions of pounds worth of investment in the towns in the next few years.
“It would improve economic productivity and growth and improve the use of land in these towns.
“The investment plan should be ready by the Summer, and we’re looking forward to making a major difference in Keighley and Shipley.”