Issue date: 19th July 2012
The Cotswold Canals Partnership has announced that it needs further funding to complete the current stage of restoration of the Cotswold Canals. Earlier this year, Stroud District Council announced that it had not been able to secure a suitable developer to deliver the vision for Brimscombe Port. The plan was that commercial property development would feed funding back into the restoration for the rest of the canal.
However, following a market testing exercise, it became clear that in the present economic climate, not only would private sector developers not provide funding for the project but that they also required several million pounds of additional public sector investment. The Partnership is therefore faced with the challenge of restoring the canal without a guaranteed income stream.
Stroud District Council will be making its case to the Heritage Lottery Fund and the Homes & Communities Agency to see if they will make up the shortfall to allow the current restoration schedule to continue. Members of the council’s new Executive will meet shortly to consider a report outlining the options available to the scheme.