Lincoln’s Town Deal projects may face ‘difficult decisions’ as costs continue to rise.
The impact of inflation is being carefully monitored, the projects’ board has been told.
Lincoln has been awarded £19 million to deliver 13 ambitious projects across the city.
Some £7 million is projected to be spent by the end of 2022 – however soaring inflation could mean money doesn’t stretch as far.
Concerns were raised during an update on the projects this week.
City of Lincoln Council Chief Executive Angela Andrews acknowledged that projects may need to “resize and rescale” accordingly.
She added: “There is no clarity from government on what could happen”, and projects may need to be more flexible with timescales.
A map of the proposed Town Deal projects for Lincoln | Photo: City of Lincoln Council
Ursula Lidbetter, CEO of Lincolnshire Co-op, said: “There has been an extraordinary increase in the cost of some of the tenders due to inflation.
“The government must be seeing rising costs across all Town Deals.”
Council officer Kate Ellis, the strategic director, said: “We must ensure that contractors are realistic and honest about costs. We need to be aware of problems earlier rather than later. They shouldn’t struggle through in silence.
“There may be difficult decisions towards Christmas or New Year on redistributing money.
“Since this is the government’s flagship programme, they may be open to discussion [on more money] but that remains to be seen.”
The meeting was held at the reopened Drill, one of the Town Deal’s early success stories | Photo: Steve Smailes for The Lincolnite
The board was told that of the 13 projects, there was uncertainty on the timelines of just four.
The development of a creative hub in the Barbican Hotel and the Lincolnshire City Football Club community hub are currently awaiting planning permission.
Costs are also being reviewed for the Lincoln Connected project, to embrace digital technology on the high street, and the Sincil Bank revamp scheme.
The Greyfriars regeneration is now moving ahead after funding was announced this week.
The board also heard that applications for the UK Shared Prosperity Fund have been heavily oversubscribed, as expected.
Lincoln has been allocated £2.8 million of funding – however 48 applications have been received, totalling four times that amount.
Any ideas which don’t receive grants will be added to the city’s growth strategy, meaning they could get funding in the future.
The Lincolnite welcomes your views. All comments are reactively-moderated and must obey the house rules. Please stay on topic and be respectful of other readers.
Exciting news for MyLocal app users and The Lincolnite readers! Our latest update is now available to download from your app store and comes packed with the best local news experience you can enjoy.
Revamped News Feed: Enjoy faster loading times and smoother scrolling that make catching up on local news a breeze.
New Play Video Feed: Dive into a dynamic video feed that brings local stories to life in a whole new way.
Enhanced In-App Browser: Access external links quickly and efficiently, right from the app, without any distractions.
Update your MyLocal app from your app store (version 2.73) now and start enjoying these great new features today!
P.S.: Start your MyLocal membership today to support MyLocal and The Lincolnite deliver you a better local news experience and honest journalism from across Lincolnshire.
P.P.S.: We have some huge things in the pipeline, stay tuned!
Exciting news for MyLocal app users and The Lincolnite readers! Our latest update is now available to download from your app store and comes packed with the best local news experience you can enjoy.
Revamped News Feed: Enjoy faster loading times and smoother scrolling that make catching up on local news a breeze.
New Play Video Feed: Dive into a dynamic video feed that brings local stories to life in a whole new way.
Enhanced In-App Browser: Access external links quickly and efficiently, right from the app, without any distractions.
Update your MyLocal app from your app store (version 2.73) now and start enjoying these great new features today!
P.S.: Start your MyLocal membership today to support MyLocal and The Lincolnite deliver you a better local news experience and honest journalism from across Lincolnshire.
P.P.S.: We have some huge things in the pipeline, stay tuned!