Bolton Council has successfully been offered up to £22.9m of funding from central government’s Town Fund today (March 3) to help regenerate its town centre. This is in addition to the £1m accelerated funding already secured.
Bolton Town Investment Plan was only one of the 45 town deals announced as part of the budget and is also one of 101 towns who had been given the opportunity to secure funding from the government’s £3.6bn Towns Fund.
The Cheadle Square area of Bolton Town Centre which includes Bolton Market, Bolton Central Library, and Aquarium is now set to see major improvements thanks to the Towns Fund grant.
Bolton’s Council will also use the secured funds across four projects including an improvement to Bolton Market, which will involve refurbishing and upgrading the internal halls, and improving all entrances to the building.
The Wellsprings building will be redeveloped to create an innovation hub for growing and start-up businesses in the creative and digital sector.
A public realm project will create a greener town centre, creating improved footpaths and connections between key institutions improved, new pocket parks and new public spaces.
Finally a reedevelopment of Bolton Central Library, Museum and Archive, will expand the Aquarium, modernise the libraries and introduce flexible workspaces for local businesses and community groups.
The next stage of the process will involve the council agreeing Heads of Terms with government and developing a full business case for each of the projects.
Costs are indicative and could change as plans develop. and there are strict criteria on how money from the government’s Towns Fund can be spent. It can only be used on Bolton town centre regeneration projects, and not used to offset budget savings or spent on other services.
Chair of Bolton’s Town Deal Board and Director at Agitare Business Consultancy, Belinda Beaver said: “I am overjoyed that Bolton’s Town Fund has been successful and the money we receive will make a great difference to our town centre. The success is a testimony to Bolton’s fantastic collaborative working with partners to provide upgraded facilities to businesses, residents and visitors alike.”
Leader of Bolton Council, Cllr David Greenhalgh, said: “We are delighted to hear that the government has supported Bolton’s Town Fund bid. This money will help us realise our vision and enable us to deliver transformative projects which are a key part of our ambitious plans.
These projects include the redevelopment of Wellspring into an innovative business hub, the refurbishment of Bolton Market, further work to our library and museum and a substantial investment to public realm in Cheadle Square and Ashburner Street which will enhance the environment and create new pocket parks and other public spaces.
These town fund projects result from extensive collaboration with residents, MP’s and private and public sector partners and will reinforce our collective ambition, vision and commitment to regenerating Bolton’s town centre.”
For more information about Bolton’s Town Fund bid visit www.investinbolton.com