Funding - Levelling up bid
Following the Comprehensive Spending Review announcement (27 October), Newham Council’s two Levelling Up bids were given the green light by government, with nearly £40m awarded to the local authority – the highest award out of the £65m allocated to London.
A sum of £2m from their Connecting the Opportunity bid is secured for Lochnagar Bridge while another £500K is secured for cultural interventions to the Leaway Walk.
Today’s announcement will bring much needed funding to support the Council’s ambitious agenda for economic growth, skills and place-making in the borough through its Connected Neighbourhood’s programme, linked to the use of data and digital technologies; and 15 Minute Neighbourhoods to promote health and well-being and respond to the climate emergency through investment in upgrading neighbourhood infrastructure.
LBN Capital funding
Newham obtained cabinet approval on 20 July for an initial £1.75m of capital funding for the enabling, feasibility and design phase of the bridges’ programme, including matters such as land acquisition, design and planning advice and technical support.