Why are you bidding for £32 million when the announcement said bids could be up to £25 million?
Following further guidance from Government, it was made clear bids of over £25 million can be considered in exceptional circumstances, where a town has developed several strong project proposals and can demonstrate it is offering the Government an exciting programme of transformation.
Will you get either all the money or none of it?
It is possible some elements of the bid may be approved while others may not so the final amount may vary. There will be negotiations with the Government following an appraisal process. Equally, projects of these kind do change and sometimes due to reasons beyond the control of the Loughborough Town Deal Board, a project may no longer be pursued if the lead organisation decides not to pursue it.
How much are the individual projects going to cost?
We have not included detailed costings of scheme as they are not yet available. Some of the projects are in the very early stages when costings are very broad and many elements are commercially sensitive.
Will the Loughborough Town Deal Board be responsible for the projects?
No. Most of the projects will have a lead partner, who are also likely to be investing in the scheme, who will directly oversee the project. However, the Loughborough Town Deal Board will continue to meet and oversee the overall progress of the Town Deal, monitor success and feed that back to government.