Truro to receive first share of Town Deal funding to deliver regeneration
A first tranche of funding has been released to Cornwall Council to enable Truro Town Deal projects to get underway.
Truro was allocated £23.6 million last year to deliver a package of seven transformational projects that together will enhance Truro as a “connected river city”.
Since then, business cases have been developed to enable the Government to sign off individual projects which will trigger the release of the funding.
Grant funding agreements will be issued to projects in the coming months, which will enable them to take positive steps towards achieving their goals of delivering improvements in the quality of life for local residents, supporting local businesses, and providing skills development opportunities.
Alan Stanhope, chair of Truro Town Deal board, said: “This is a huge milestone for Truro. We can start to draw down some significant investment and the real work can begin to put our projects into action.
“This is a result of two years of exceptional work from a committed board of volunteers and a small team to develop our portfolio. Over the past six months, we’ve been working on very detailed business cases and it’s this behind-the-scenes effort that has enabled the Government to release the first part of our Town Deal funding.
“We’re proud to be able to get finally started in delivering our vision for Truro as a connected river city.”
The £88.7 million Town Deal Funding allocated by the Government to Cornwall will be invested in over 30 projects and delivered across Truro, Camborne, Penzance and St Ives. As Lead Authority for the region, Cornwall Council has received the first instalment of £18.3 million for 2022 / 2023 for the four towns.
The seven Truro Town Deal projects submitted to Government are:
Cherilyn Mackrory, Member of Parliament for Truro, said: “This is the moment we have been waiting for. A lot of hard work by key local stakeholders has got us to where we are now with this project. This really is a game-changer for Truro which will allow us to start unlocking our city’s potential.
“Levelling Up is still at the heart of the Government’s agenda and decisions like these clearly demonstrate that. This pot of money will allow us to start investing in a variety of different projects in Truro that will benefit those who live, work and grow up here.”
Louis Gardner, Cornwall Council cabinet member for economy, said: “With the first year of funding now in place, Truro – can now start to deliver on the projects that will make a difference to their communities.
“So much work has gone on behind the scenes to get to where we are today and confirmation that projects can now progress is testament to the commitment and vision of the Town Deal Boards.
“Cornwall Council will itself be delivering 11 ambitious projects across the four areas of Camborne, Truro, Penzance and St Ives using Town Deal funding to improve connectivity, public spaces, housing and offer grants to businesses. I have no doubt that these investments will revitalise the town – and city – centres, improving life for residents and creating sustainable communities now and into the future.”
Community engagement activity is continuing for some projects ahead of applications for planning permission, including Truro Community Hub and Boscawen Park Sports and Recreation Hub.