Northampton has been invited by the Government to submit further regeneration proposals which could result in up to £25 million additional funding.
The announcement today by the Ministry of Housing, Communities and Local Government is over and above the current bidding process for the Future High Streets Fund, which Northampton has already been successful in being shortlisted for.
Northampton has been identified as one of 100 places across the country shortlisted for what the Government is calling the Towns Fund.
The funding will help the new Northampton Forward board deliver on its ambitious plans for the town, making it possible to deliver even more progress.
Northampton Borough Council leader and Northampton Forward Chairman, Cllr Jonathan Nunn, said: “This is clearly very exciting news and something we welcome wholeheartedly.
“Our outline masterplan for the town centre was largely well received by the public and we are in the process of developing a detailed proposal, incorporating the responses we received as part of the consultation. We plan to publicise details of the responses in the near future.
“We’re looking forward to further detail about the latest tranche of funding available and what we will need to do to access it.”
The consultation around high-level proposals drawn up by 5plus Architects ran from mid-may to the end of June and headlines responses were published last month.
These will form part of the detailed plan which will be submitted to the Government for a slice of the Future High Streets Fund announced earlier this year.
Local Government Secretary, Rt Hon Robert Jenrick MP, said: “We want to level-up our great towns, raising living standards and ensuring they can thrive with transformative investment in transport, technology, skills and culture.
“I hope these deals will provide the investment and the impetus for long-term renewal ensuring each town can look to the future with a new optimism.”