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A great place to live, work and visit -Regenerating the Borough Budget Proposal
Regenerating the Borough and Building Up Business
On 26 November 2018, Cabinet approved an overarching Regeneration Strategy (the Strategy) “An Ambition for North Tyneside”. The aim of the Strategy is to match ambition for North Tyneside to the Local Plan which sets out special strategy for the next 15 years. The Regeneration Strategy recognises what has been achieved so far and how the borough has changed. The Strategy takes a forward look at what we are doing, what we will do next and what we will do if we can and this is being developed across the four areas of the borough. The people and places of North Tyneside have always been about ambition. The Authority will support that ambition and innovation. The Strategy aims to shape North Tyneside and make sure it is fit for the future. As part of that, the Authority will continue to work with and encourage inward investment into the borough and growth in new business.
Deliver our Transport Strategy; major investment is underway in North Tyneside. This is specifically shaped to support the local economy and to handle housing growth. The Draft Local Plan must be underpinned by an effective Transport Strategy and transport operations. This proposal aims to develop a Transport Strategy for the Borough to be agreed later this year by the Mayor and Cabinet. This will shape significant investment in the highway network as well as local, tactical investment in roads and pavements. It will also shape our own transport operations including how we commission transport services and operate our fleet. This is aligned to national policy and investment in infrastructure funded by Central Government. This will support growth in our economy leading to increased resources and for some areas reduced costs.
• Profit from Property Development; the housing and property market in North Tyneside has remained relatively buoyant through a difficult decade. In parallel to the Mayor and Cabinet’s Affordable Homes Programme and in line with the Draft Local Plan this proposal aims to use a range of commercial models to exploit current and acquired assets to build for profit. We expect this to happen both at scale and at a property by property basis beginning with initial work in North Shields (Northumberland Square) and Whitley Bay (The High Point, Whiskey Bends and The Avenue). This links to the Government ambition to deliver more homes.