Hartlepool regeneration to be boosted by £42million investment
The regeneration of Hartlepool is to be boosted by £42million of funding to be spent on roads, education and the waterfront.
The money comes as part of the Tees Valley Combined Authority investment plan, passed in January, which secured the £42million for Hartlepool as part of the overall £588million plan.
A special joint meeting of Hartlepool Borough Council finance and policy and regeneration services committee is to take place on Monday looking at how the money will be spent and also reflecting on other grant funding in the town in recent years.
As part of the investment plan £20million has been allocated towards the Hartlepool Waterfront, with £8million going towards the Western Growth Corridor, providing a new link road to the A19.
Another £4million will go towards the delivery of the second phase of the ‘Innovation and Skills Quarter’ development which will see the delivery of film and television studios at the former bus depot in Lynn Street.
Finally £10million will be available for ‘indigenous growth’ in the town, £2million a year over the next five years.
A report from Denise Ogden, director of regeneration and neighbourhoods on the council, states the council has attracted, secured and invested over £160million in regeneration and economic growth in recent years.
It also added the council is planning for more than 6,000 new homes and business space for more than 4,000 workers being provided across the town in the next 15 years.
The report said: “The scale of new investment in Hartlepool has been beyond expectations in recent years and it is set to continue, driven by the commitment of the council with partners.
“Despite the unprecedented challenges the council faces in terms of reductions in central government funding and increasing demand on our services, we refused to let our challenges impede our ambition for the borough.
“Our ambition for Hartlepool is to be known as a great place to live as well as invest and visit.
“We are supporting economic growth and creating sustainable communities in places where people want to live.”
In total since 2017, £22million has been secured towards developing Hartlepool, £86million in growing the town economy, £8million investment in neighbourhoods and £44million for regenerating the town.
The report states the latest investment plan will look to support the council plan from 2017-2020 setting out the ambition: “Hartlepool will be a vibrant, welcoming and inspiring place to live, work, invest and grow up in.”
The joint meeting will take place at the Civic Centre on Monday from 11am.
Nic Marko , Local Democracy Reporting Service