Cabinet considered a proposal to participate in the Infrastructure Feasibility Study fund for Surrey.
Surrey Boroughs and Districts are not attracting central government and LEP infrastructure funding due to a lack of feasibility studies. This dedicated fund will ensure that resources are available to support project development at an early stage.
Alternative options considered and rejected:
Not to contribute to the scheme which would put Spelthorne at further risk of falling behind.
Resolved to:
1. Participate in the Infrastructure Feasibility Study for Surrey;
2. Commit a one-off sum of £210,000 to the Fund for 2019/20.
Reason for the decision
Investment in project development is needed at an early stage to develop a pipeline of projects able to apply for full project funding when bidding rounds become available. This fund would ensure there were dedicated resources to develop a robust pipeline of schemes to kick start infrastructure and regeneration within Spelthorne.