Councillors are considering recommending approval of around £35 million of borrowing over the next four years to fund infrastructure key to ambitious homes and jobs plans.
Calderdale Council’s Cabinet will consider proposals for £52.4 million funding officers believe will be necessary to ensure infrastructure around Brighouse and south east Calderdale is in place.
The infrastructure – including roads, schools and community centres – will be essential to maximise potential of two garden communities totalling around 3,000 new homes, the proposed Clifton Business Park and A641 corridor improvements on the route linking Bradford to Kirklees via Brighouse, the senior councillors are told.
It is envisaged the £52.4 million will be funded partly by roof tariffs on new homes built, which the council can enforce by legal agreements with housebuilders, which it is estimated will raise around £17.4 million.
But the council will need to borrow £34.9 million – councils can borrow for capital projects, usually at special rates from the Government – paid back over an estimated 18 year period.
The reward, councillors are told, is unlocking the potential of the land.
Alternatives, including all of the critical infrastructure being funded by housebuilders and private landowners, have been assessed and the briefing paper to councillors outlines why these have been ruled out.
When they meet on February 12, Cabinet are asked to agree the proposed investment.
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