What is the Towns Fund?
On 27 July 2019, the Prime Minister announced that the Towns Fund would support an initial 101 places across England to develop Town Deal proposals, to drive economic regeneration and deliver long-term economic and productivity growth.
A Town Deal is an agreement in principle between government, the Lead Council and the Town Deal Board. It will set out a vision and strategy for the town, and what each party agrees to do to achieve this vision.
Each of the 101 towns selected to work towards a Town Deal also received accelerated funding last year for investment in capital projects that would have an immediate impact and help places “build back better” in the wake of Covid-19.
Nuneaton Town Investment Plan (TIP)
In December 2020, the Nuneaton Town Deal Board, which is made up of business people, Nuneaton and Bedworth Borough Councillors, Warwickshire County Councillors and representatives from the Coventry and Warwickshire Local Enterprise Partnership, Warwickshire CAVA, health and community sectors, submitted Nuneaton’s Town Investment Plan to the Government.
Following a highly successful public consultation with Nuneaton residents where they were asked to submit their ideas, 11 projects were chosen by the Town Deal Board to be included in the Plan.
In March 2021, the Chancellor of the Exchequer announced in his budget that Nuneaton had been selected to receive the full £23.2 million it bid for from the Towns Fund and work is now well underway with our partners to see those 11 exciting initiatives delivered for the people of Nuneaton.
What happens next?
Visit this page for updates of individual project developments and how you can continue to have your say as the work progresses to deliver those 11 initiatives. Watch this space!!