Daventry District Council (DDC) is set to pump more than £14 million into the long-awaited Flore/Weedon bypass according to a report.
The report has been written by the council’s business manager Simon Bowers and will be presented to DDC’s strategy group at a meeting on Thursday April 9.
It outlines an agreement between DDC and the county council to provide funding for the bypass.
There will be £2 million of revenue funding to be given to Northamptonshire County Council (NCC) to help with a loan to build the road. A further £12 million will come from community infrastructure levy. Money from the new homes bonus for the proposed Church Fields application will also be given to the bypass – the total value of this is not mentioned.
Further details about the road, officially known as the Daventry Development Link Road (DDL), were also in the report.
It is expected the planning application will be determined by NCC next month.
NCC has also appointed a contractor to develop a detailed design of the scheme and the same contractor is expected to construct the road. It is now believed work will start on the new road in October 2015 and will take around 18 months to complete, opening around June 2017.
NCC estimates it could cost more than £35 million to build the DDL. The rest of the funds will come from the Government and money given by housing developers.
The report states: “The DDL is central to the development of Daventry over the next 30 or so years. The delivery of the DDL is also a critical factor in implementing the core strategy and maintaining a five year supply of housing land. This in turn is essential for the council to regain a greater degree of control over the location and form of development in the district.
“It is therefore justified for DDC to consider making a financial contribution to the road.
“The DDL is also very costly, when compared to the Council’s normal budgets,and as such great care is needed when structuring an approach to support its delivery. The terms of the proposed agreement are designed to allow DDC to manage the financial risks making such resources available for the project.”