Council searches for strategic partner for multi-million pound regeneration projects
Craven District Council is inviting tenders from private sector partners to work on regeneration projects in the district worth up to £30 million.
The joint venture could deliver valuable regeneration schemes for the community whilst also generating an investment return for the council.
A number of potential regeneration areas have been identified which will be subject to further detailed appraisal once a joint venture partner has been selected.
Ian Halton, Assets and Commercial Services Manager at Craven District Council, said: "The council has ambitious plans to regenerate areas of Craven.
"A strategic developer partnership arrangement could help us secure long lasting and sustainable regeneration in the district.
"A number of East Lancashire authorities have worked successfully with private developers on regeneration projects in their area and we believe this success can be repeated in Craven."
The procurement process was approved by full council on August 2, along with a supplementary revenue estimate of up to £25,000 to meet external procurement and legal support and set up costs.
A further report will be submitted to the policy committee in due course to inform councillors of the outcome of the first stage of the process, and councillors will be asked to approve a selected partner.