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Council agrees to capital uplift of £159 million for major investment in new town at Langarth/Threemilestone

At its meeting of 18 December 2018, Cabinet agreed to continue to invest in the major scheme proposed for the land north of the A390 on the west of Truro, variously described as Langarth or Threemllestone. Cabinet agreed the following:

  • A sum to purchase land for an additional 10 plots at Langarth and progress the related site infrastructure.
  • A sum to produce a masterplan for the whole site.
  • A sum to commit expenditure for the northern access road subject to receiving a significant contribution from the government’s housing infrastructure fund.

The total of the above items is £59.5 million.

In addition, Cabinet put forward proposals for:

  • Forward funding of a primary school (to recoup from planning obligations and commercial agreements)
  • Forward funding of public infrastructure (to recoup from planning obligations and commercial agreements)
  • Further expenditure on land acquisition (to recoup from future development value and investment opportunities)
  • Construction of 164 houses at Langarth (to recoup from future development value and investment opportunities)

The total for these items is £99.5 million. Business cases will be brought back to Cabinet for sign-off these specific items during 2019.

At its meeting of 22 January 2019, Full Council agreed to support the total capital uplift required of £159 million to allow these investments to be progressed.

For further details, see the Council press release.

 

January 2019

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