New proposals are being progressed to secure funding for a stretch of the Melton Mowbray Distributor Road, paving the way for a decision later in the year. The road is intended to support the major housing development known as the Melton South Sustainable Neighbourhood.
The County Council has yet to accept a £15m Government grant offered towards the cost of the southern leg of the Distributor Road.
Following discussions with the leadership of Melton Borough Council, the approach – agreed by Leicestershire County Council’s cabinet this afternoon – would see the Borough Council significantly increase its risk share agreement cap to £1.75m.
We’re giving this one last push. And these are welcome changes the leader of Melton Borough Council has indicated he’s prepared to ask his Council to agree. With demand for housing putting growing pressure on councils, we face tough decisions – and our focus has to be reducing the financial risk to our budgets.
But we’re committed to economic growth and building strong communities and want to get this over the line.Person:Nick Rushton, leader of Leicestershire County Council
Under the agreement, the Borough Council would also produce a Developer Contributions Supplementary Planning Document, a replacement masterplan for the South Sustainable Neighbourhood, and a new masterplan for the North Sustainable Neighbourhood, to the satisfaction of the County Council. These documents are important in securing appropriate contributions from developers towards the cost of infrastructure such as schools.
Subject to decisions of the Borough Council and ongoing discussions with Government about the costs of the road and the nature of the agreement which the County Council is required to sign, the County Council will be in a position to accept the grant conditionally when its cabinet next meets on 17 September.