Alternative source for park funding

NEW FUNDING for developing industrial estates in both Arbroath and Carnoustie could be found through tax incremental financing (TIF).

As part of the Angus Council budget, which was agreed by elected members last month, it was revealed business parks in the two towns could be set for extra cash.

Arbroath councillor David Fairweather was to table an amendment at the budget setting meeting to instruct the local authority to explore this possible funding source.

But as this year’s budget was set with the help of both administration and non-administration members, his amendment was accepted unanimously.

Councillor Fairweather explained: “During these hard times great effort has to be made in both councils cutting costs but serving the people of Angus with improved services.

“It is abundantly clear that the priorities have to be a healthy and well educated population, a safe and secure environment and a thriving economy.

“It is my belief that having more people in work achieves all three of these priorities.

“Through the Scottish Futures Trust, the government are looking for turnkey ready projects.

“The summary of this is that increasing non-domestic rates are allowed to be kept by councils to fund capital projects rather than going to Westminster.

“At no cost to the council, these two priority projects could possibly proceed more quickly if we could progress under a TIF approved project.”

The chief executive of Angus Council will now look into the possibility of using TIF and will report back to members.

And Councillor Fairweather added: “I am quietly optimistic that a government looking for no cost successful projects and a council looking to make best value of opportunities, that we authorise he chief executive to open discussion with appropriate ministers and officials.”