Calderdale Council to discuss borrowing £35m for infrastructure

A council plans to borrow almost £35m to fund new infrastructure for housing schemes.

It is part of a £52.4m project to fund schools, community centres, the proposed Clifton Business Park and A641 corridor improvements.

Calderdale Council said that would maximise the potential of 3,000 homes in two new garden communities planned in Rastrick and Brighouse.

If approved, the money would be repaid over an 18-year period.

The Local Democracy Reporting Service said a briefing to councillors said some of the total could be funded by the developers of new homes enforced by the authority.

It is expected this would raise £17.4m.

Councils can borrow for capital projects, usually at special rates from the government, which would provide the remaining £34.9m for the scheme.

The briefing said officers had ruled out having the infrastructure solely funded by housebuilders

It said as the work would benefit multiple sites throughout south east Calderdale, the council could spread the costs equally.

Councillors were told that a proposed gross investment programme of £201.5m over the next decade, by the council and other public sector partners, could unlock private sector investment of £757m.

The council's cabinet is expected to consider the proposal on 12 February, with a final decision being made by the full council later.

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