The 2021/22 Capital Budget was approved at the Adjourned Meeting of Torbay Council on 11 February 2021.
Torbay Council’s Capital Plan totals £301 million for the 4-year programme to 31 March 2024 with £125 million due to be spent in 2021/22.
As operational (revenue) spend remains under pressure it is vital the Council maximises the opportunities set out within its Capital Plan. The £125 million allocated will be used to support targeted actions of the Council’s Community and Corporate Plan.
In 2020/21 £42 million was invested in projects including;
– Harbour View hotel scheme in Torquay (which is due to complete in 2021)
– Development of the Claylands site in Paignton to support growth of high value manufacturing jobs
– Acquisition of the Fleet Walk shopping centre in Torquay, and
– Loan to TDA, the Council’s wholly owned and controlled economic development company, for a light industrial scheme in Paignton which is now fully let.
Torbay Council were recently successful in two significant bids on behalf of the community for Torquay (under the Town Deal programme) and Paignton (under the Future High Streets Fund), which total over £35 million in the 4-year Capital Programme. The delivery of these schemes is also expected to unlock further significant external investment.
These bids to deliver vital town centre improvements are supported by Council-funded schemes such as the redevelopment of Crossways in Paignton where we have committed to a compulsory purchase order. Plans include 90 extra care and sheltered affordable housing units for local people with ground floor commercial use. This decisive move will transform Crossways so that it no longer blights the centre of Paignton.
The 2021/22 capital investment also includes the following:
– A commitment to confirm with Brixham Town Council and the community a way forward for the town centre site in Brixham, including exploring opportunities for further investment at Brixham Harbour.
– Creating new employment space at Torquay Gateway, in delivering these projects using our powers to generate the biggest local benefit by creating opportunities for local suppliers and local employment. This is complemented by our successful bid for the funding of Edginswell Station.
– Building more new homes for the local community, including a scheme at Preston Down Road, Paignton, while our housing company, TorVista Homes, will begin delivery of its programme once approval for its ‘registered provider’ status has been received from Homes England (decision due in March 2021).
– Subject to planning permission, there will be investment in solar farms at two locations in Torbay so that we can develop generation capacity in line with our commitment to tackle the Climate Change Emergency. Torbay’s coastal nature means that there will continue to be investment to better protect the area from the impacts of flooding and coastal erosion with schemes planned at locations across Torbay.
– Investment in IT for services is continuing to provide a better and more efficient service to our residents. We expect a new care management system for vulnerable children to go live in 2021 along with an improved system to enable our customers to better interact with us.
– £100k investment into funding adaptations to our foster carers homes to allow foster carers to care for additional children – particularly those with more complex needs.
Torbay’s Leader, Councillor Steve Darling, said; “A thriving economy and economic growth are key priorities for us, even more so as we look to recover from the devastating financial impact COVID-19 has had on our businesses. Through investing in our businesses, infrastructure and developing more homes in Torbay, we are creating a place that is fit for the future”.
Deputy Leader, Councillor Darren Cowell, said; “Cabinet has set a clear direction to ensure Torbay thrives, and we are very clear in our corporate plan on how this should be delivered. Long term future prosperity requires investment, and we are committed to ensuring the best for our residents, our environment and our businesses”.
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