Highways & Neighbourhoods Cabinet Member – Minutes – 20 February 2013
41 (38) LOCAL PINCH POINT FUND – The Director of Places submitted an urgent report seeking approval for the submission of two bids for the recently announced Local Pinch Point Funding.
As part of the 2012 Autumn Statement the government announced the creation of a Local Pinch Point Fund (the fund) worth £170m to remove bottlenecks on the local highway network which were impeding growth. The fund reflected the intention by government to support economic growth by tackling barriers on the local highway network that might restrict the movement of goods and people.
The fund was intended to secure immediate impacts on growth. As such, it was aimed at those schemes that could be delivered quickly, with the Department for Transport (DfT) funding contribution (in the form of capital) only available in financial years 2013-14 and 2014-15.
The DfT was not setting a cap on the number of bids from an individual promoting authority. However, they advised that authorities should focus their efforts on the quality of bids submitted rather than the number. Depending on the overall number and quality of bids received from across the country, the DfT reserved the right to restrict the number of awards to two per promoting authority.
The fund was intended to promote economic growth through the rapid deployment of schemes that removed transport barriers or prevented the emergence of new transport barriers. Eligible schemes should be those that provided new or improved links to key economic sites (such as an enterprise zone, development site or urban employment centre), or which tackled congestion or addressed the condition of highway structures that were near to the point of becoming a barrier to access.
Potential projects could fall into the following two categories, with the vast majority falling into the first category given the delivery timescales for investment.
- small schemes requiring DfT funding of between £1m and £5m; and
- by exception, large schemes requiring DfT funding above £5m but no more than £20m.
To ensure strong local commitment, promoters would be required to contribute at least 30% of total scheme costs. The deadline for submitting bids was 5pm on 21 February 2013. Decisions on successful bids would be made as soon as possible.
The Cabinet Member was requested to take an urgent decision to approve the two bids as described below, in order to meet the required submission deadlines.
Resolved – That the submission of bids for funding via the Local Pinch Point initiative to support taking forward the following projects be approved.
- Humberside International Airport (HUY) – surface access improvements
- Mortal Ash Hill Roundabout