Calderdale Council have approved a wide range of projects, from highways to schools and housing, as part of a £101m capital spending programme.
The approved spending was a notable increase in cost from past budgets, with the council’s Cabinet Member for Regeneration and Resources, Cllr Jane Scullion, explaining the total included £11.1m brought forward from last year.
Two thirds of the programme were reportedly funded by grants, with majority of the remaining sum covered by prudential borrowing. Money prudentially borrowed is often from the Government’s Public Works Loan Board at special rates and repaid over a long period of time.
Many of the projects are planned to self-financing, for example the council’s intention to replace the street lights with a LED system, bringing significantly reduced energy costs.
According to local media, figures provided to the councillors during the approval process showed anticipated funding to deliver schemes between 2020-21 and 2022-23 was 67% from grant funding, 1% from revenue and reserves, 30% from prudential borrowing and 3% from pooled resources with partners.