| Issue 8 22 November 2004 Bringing investment into the town centre "The proposed Cattle Market development will be bringing in outside investment of more than £80million into Bury St Edmunds to the benefit of people throughout this area - an impressive indication of the growing importance and attraction this town has as a sub-regional centre. And on top of that, the Council Tax payer should actually benefit by the steady year-on-year income we will receive from the development," said St Edmundsbury Borough Council Leader Cllr John Griffiths at the Cattle Market Redevelopment Working Party earlier this month. His comment came after members heard what benefits could come to the town as a result of the development. St Edmundsbury and our developer partner, Centros Miller, are currently negotiating over exactly what this could mean if the development gets the go-ahead. The consideration of planning applications for major schemes includes negotiation of what is known as a Section 106 agreement, which has to be settled before planning consent will be granted. The working party members heard that the Section 106 agreement could include funding for affordable housing. This would be put into a pot set aside for housing and used with other funding to provide homes for low rent or shared purchase built elsewhere in the town. Money would also be available to promote Bury St Edmunds as one town with one shopping centre. It would mean extra funding for the Town Centre | Management group and a major joint marketing initiative, promoting independent traders in the historic core as well as the new development. The agreement could also cover contributions to sustainable transport - improving the cycle and town bus networks (such as Sunday bus services, for example). And to manage the traffic flows in town, cutting the traffic jams which can occur as so many drivers try to get into the most popular car parks at the most popular shopping times - a Variable Messaging System would be installed. This involves signs on approach roads directing drivers to car parks with spaces. It's proposed that funding is also put forward for public art within the scheme, with a selection panel responsible for coming up with ideas and commissioning artists, including those from local schools. Improvements and extra security in the Parkway underpass have also been suggested. The exact amount of money that the Cattle Market scheme will make available for contributions such as these will be publicly available when the plans are considered by Development Control Committee. Working Party chairman Cllr Andrew Varley said at the meeting last week: "It would be staggering if local business people don't see this as a tremendous opportunity." ************************************ Newsletter: This newsletter is from St Edmundsbury Borough Council, owner of the Cattle Market redevelopment site. Please forward it to anyone you think may be interested in the topic or contact me if you wish to be taken off the distribution list: marianne.hulland@stedsbc.gov.uk |
