Over £6m has been approved to continue regeneration schemes in Rotherham.
Approving its budget for 2025/25, the South Yorkshire Mayoral Combined Authority (SYMCA) has agreed to distribute further "gainshare" funding to each local authority. Gainshare funding refers to the money committed to South Yorkshire through the Devolution Deal agreed by the MCA, South Yorkshire local authorities and government.
Gainshare funding has previously been used to "top up" externally funded regeneration projects in Rotherham where budgets have increased.
To advance schemes included in the borough's Place Investment Plan, Rotherham is set to receive a total of £4.49m - £1.8m revenue and £2.7m in capital funding.
Rothbiz reported on Rotherham's place-based investment strategy back in 2023 which set out priorities for using funding across the borough up to 2025 and beyond.
Looking beyond buildings and infrastructure to the needs and assets of its community, the strategic objectives included supporting and diversifying Rotherham’s town centre offer to increase footfall and create a resilient and economically secure place. Other objectives focus on manufacturing, culture, housing, transport, skills and inclusive growth.
Building on Forge Island and the markets, the plan includes indicative investments such as the £27m cultural quarter around Corporation Street and the £12m of investment into new housing along the riverside.
Going beyond 2025, a new theatre is included in the strategy with an investment figure of c.£28m.
Rotherham Council has also committed a further £2m in its latest budget for "strategic aquisitions," following on from a previous allocation of £3m.
Rothbiz reported last year on the authority setting up a £600,000 "Feasability Fund" to progress planning and feasibility for a programme of interventions based on the next potential regeneration sites in Rotherham town centre. These include the riverside on Sheffield Road, Bailey House, The Statutes, the former Mecca Bingo and other sites on Corporation Street.
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Budget documents explain: "Over the last three years the Council has used a combination of its own capital and Government grant to facilitate the acquisition of buildings in the town centre, many of which have been demolished or prepared for redevelopment. Public sector control of property along Corporation Street, the former Boots building and land fronting the river has all been enabled by the Council’s interventions.
"Another allocation to a Strategic Acquisition Fund will allow the Council to respond to opportunity acquisitions as and when strategic sites are presented to market by willing sellers. The fund being provided by the Council, as opposed to a central funding body, gives additional flexibility and allows the Council to move at pace when the opportunity to acquire is presented."
Asked about the £2m allocation at a recent meeting, Cllr. Chris Read, leader of Rotherham Council, explained: "It is not ringfenced specifically for the town cente, although over the last few years we have predominantly spent it in there, and that is because we need to buy land and property in the town centre in order to facilitate the regeneration programme that we are committed to.
"If you look at the council plan consultation that is coming forward, where it had something like 2,000 repsonses, their top wish for the future of Rotherham is town centre regeneration.
"We have set our stall out for wanting to improve the centre of the borough. We are delivering on the committments that we have made about that. I don't think any of us thinks that the town centre is the thriving place that we would like it to be.
"We own relatively little property in the town centre. It is one of the reasons why Rotherham has been slower to be able to improve over the course of the last few years, and we think it is reasonable to continue to approve a certain amount of money each year to facilitate that."
Images: Google Maps
Approving its budget for 2025/25, the South Yorkshire Mayoral Combined Authority (SYMCA) has agreed to distribute further "gainshare" funding to each local authority. Gainshare funding refers to the money committed to South Yorkshire through the Devolution Deal agreed by the MCA, South Yorkshire local authorities and government.
Gainshare funding has previously been used to "top up" externally funded regeneration projects in Rotherham where budgets have increased.
To advance schemes included in the borough's Place Investment Plan, Rotherham is set to receive a total of £4.49m - £1.8m revenue and £2.7m in capital funding.
Rothbiz reported on Rotherham's place-based investment strategy back in 2023 which set out priorities for using funding across the borough up to 2025 and beyond.
Looking beyond buildings and infrastructure to the needs and assets of its community, the strategic objectives included supporting and diversifying Rotherham’s town centre offer to increase footfall and create a resilient and economically secure place. Other objectives focus on manufacturing, culture, housing, transport, skills and inclusive growth.
Building on Forge Island and the markets, the plan includes indicative investments such as the £27m cultural quarter around Corporation Street and the £12m of investment into new housing along the riverside.
Going beyond 2025, a new theatre is included in the strategy with an investment figure of c.£28m.
Rotherham Council has also committed a further £2m in its latest budget for "strategic aquisitions," following on from a previous allocation of £3m.
Rothbiz reported last year on the authority setting up a £600,000 "Feasability Fund" to progress planning and feasibility for a programme of interventions based on the next potential regeneration sites in Rotherham town centre. These include the riverside on Sheffield Road, Bailey House, The Statutes, the former Mecca Bingo and other sites on Corporation Street.
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Budget documents explain: "Over the last three years the Council has used a combination of its own capital and Government grant to facilitate the acquisition of buildings in the town centre, many of which have been demolished or prepared for redevelopment. Public sector control of property along Corporation Street, the former Boots building and land fronting the river has all been enabled by the Council’s interventions.
"Another allocation to a Strategic Acquisition Fund will allow the Council to respond to opportunity acquisitions as and when strategic sites are presented to market by willing sellers. The fund being provided by the Council, as opposed to a central funding body, gives additional flexibility and allows the Council to move at pace when the opportunity to acquire is presented."
Asked about the £2m allocation at a recent meeting, Cllr. Chris Read, leader of Rotherham Council, explained: "It is not ringfenced specifically for the town cente, although over the last few years we have predominantly spent it in there, and that is because we need to buy land and property in the town centre in order to facilitate the regeneration programme that we are committed to.
"If you look at the council plan consultation that is coming forward, where it had something like 2,000 repsonses, their top wish for the future of Rotherham is town centre regeneration.
"We have set our stall out for wanting to improve the centre of the borough. We are delivering on the committments that we have made about that. I don't think any of us thinks that the town centre is the thriving place that we would like it to be.
"We own relatively little property in the town centre. It is one of the reasons why Rotherham has been slower to be able to improve over the course of the last few years, and we think it is reasonable to continue to approve a certain amount of money each year to facilitate that."
Images: Google Maps