The Preston and Lancashire City Deal is an agreement between the Government and four local partners; Lancashire County Council, Lancashire Enterprise Partnership, Preston City Council and South Ribble Borough Council.
It includes a £334 Infrastructure Deliver Programme including:
* The Preston City Council and South Ribble Borough Council contributions are largely made up of an anticipated, rapid increase in receipts from the New Homes Bonus and income from business rates generated as a result of the City Deal proceeding.
The main transport schemes included in the City Deal are:
This will link the A583/A584 to the motorway network via a new junction on the M55. This road will improve access to the Warton site of the Lancashire EZ, the Springfields nuclear fuel facility at Salwick and enable the comprehensive development of the North West Preston strategic housing location which will accommodate over 4,000 new homes. Scheme costs of £109.5m.
This will double vehicle capacity between Preston City Centre and the motorway network, at the point at which the M65, M6 and M61 connect. This enhancement will enable full development of, and access to, Cuerden Strategic Employment site and the adjacent Lancashire Business Park. In addition it will unlock housing schemes accommodating up to 2,700 new homes. Scheme costs: £52.5m.
This will provide critical relief to the A6, North East Preston and the M6. This new road will unlock housing sites in creating over 1,400 new homes, as well as enabling full development of new and future employment sites in East Preston creating over 5,000 new jobs. Scheme costs: £23.9m
This will complete the Penwortham Bypass, complementing SRWD capacity improvements and connecting the network to Ringway. It will significantly improve access between local and motorway networks, reducing congestion in Preston City Centre through by-passing of City Centre routes. In addition it will enable future housing opportunities to come forward beyond 2024. It will also define the route of the new bridge crossing of the River Ribble linking with the PWD. Scheme costs: £17.5m.
There will also be a £100m investment fund, from the Lancashire County Pension Fund. This will be a new venture under which the pension fund will invest in local schemes on a commercial basis. The pension fund manages a portfolio of investments across the UK – this new approach ensures that some of its investment will in future be concentrated on the Preston and Lancashire area.
The Government invited Preston and Lancashire to submit an Expression of Interest in a City Deal in October 2012, along with 19 other areas across the country. In February 2013, the Deputy Prime Minister announced that all 20 areas would be invited to enter detailed discussions and negotiations. Over recent months, delegations representing the Preston and Lancashire City Deal partners have visited Whitehall twice to put their case to government ministers. Preston and Lancashire is the first and currently only one of the 20 areas to have succeeded in agreeing a City Deal.
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