A TEAM of specialists has been appointed by Cumberland Council...Read More
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A SERIES of transformational projects designed to ensure Millom thrives now and in the future have moved into a vital new stage.
The town is on track to unlock £20.6 million in promised Government funding for four ambitious projects as part of its Town Deal.
Now, business cases developed in support of each project have moved to the crucial assurance stage of the process – where they will be checked to ensure they represent viable, sustainable models for the future.
Once this is complete, final versions of the business case summaries will be submitted back to Government as the final step towards releasing the money from the £3.6 billion Towns Fund.
Robert Morris-Eyton, Chair of Millom Town Deal Board, said: “This is a significant milestone in the complex process of accessing regeneration funding on this scale.
“A lot of work has gone into developing the proposals to get them to the assurance stage.
“Each one will be assessed to ensure it is sound, robust and financially sustainable into the future.
“I understand residents of Millom are keen to learn more about the detail of the four projects and I’m delighted to say we will be in a position to share more information on each in the coming weeks.”
Working alongside Copeland Borough Council, the Millom Town Deal Board secured the funding offer July 2021 for four projects it identified as local priorities. These are:
Mike Starkie, Mayor of Copeland, said: “This is a substantial sum of money that has the potential to make a huge difference to Millom, its communities and economy.
“The benefits will be felt not just by the residents of today but for generations to come.
“Unlocking funding of this kind is a difficult and lengthy process. We have now reached an important stage as we move closer to being able to draw down the money to allow these projects to get underway.”