TAMWORTH Borough Council has launched an ambitious project to regenerate Tamworth, generate sustainable income and ultimately make the authority more financially self-sufficient.
The aim of the Commercial Investment Strategy (CIS) is to make the best use of council assets and revenue to regenerate Tamworth, revitalise the town centre, meet the needs of the population of the borough, improve access to local services and support the most vulnerable members of the community.
The wide-ranging CIS is a long-term project, which will work alongside the Council’s revised corporate vision to boost the local economy, attract more inward investment and enhance existing economic links with Birmingham and the wider West Midlands.
It will also open up the potential for Tamworth Council to make better commercial use of its assets to generate income to protect and enhance services.
The Commercial Investment Strategy was endorsed by Cabinet at its meeting on Thursday, when it was agreed to progress to the next stage of appointing a Project Board and specialists to agree the details of the priorities and outcomes of the CIS.
Leader of Tamworth Borough Council, Cllr Daniel Cook, said: “We are looking to invest in Tamworth, to regenerate the town centre and the borough as a whole and also to create an ongoing and sustainable income stream. This will in turn make Tamworth Borough Council more self-sufficient and less reliant on ever-shrinking Government grants.
“Hopefully, if this can be done, it will bring real change to Tamworth and improve our borough for all. We have one chance to get it right for the residents of Tamworth.”
He added: “The Commercial Investment Strategy will allow us to consider options for generating sustainable income from our assets, services and business interests.
“The development of the CIS takes politics out of what we are trying to do, which is to grow Tamworth and create an income for the long term. It is NOT a political war chest for elections – the strategy is evidence-driven, not political.”
Tamworth Borough Council Chief Executive, Tony Goodwin, said: “Once adopted, the Commercial Investment Strategy will provide the framework for the Council to use investment to support our regeneration ambitions; use investment to enhance and make better use of our assets and to invest in assets, functions and services that can generate sustainable income in order to support service delivery for the long term. In short, it will be a major factor in securing the future of this organisation.”