Date set for Growth Deal sign-off

A DATE has been set for the signing of Causeway Coast and Glens' biggest ever investment deal.

The Growth Deal signing, scheduled for 29 April, allows the release of millions in Stormont and Westminster funding for what’s been described as “a once in a generation package.”

Details of the milestone are contained in minutes of a behind closed doors council meeting earlier this month.

Members were told the final hurdle before the Growth Deal could be signed by representatives of both governments, was Department for Communities’ approval of a business case for one of its nine projects – Coleraine’s new Leisure and Wellbeing Centre.

While the council is expecting to receive a significant contribution towards its £47m cost, it is required to underwrite the balance.

The plan is to seek additional external funding, but, to ensure delivery of Growth Deal cash, the council must guarantee delivery in case the extra money can not be sourced elsewhere.

Minutes of the meeting record that members were told: “This approval (underwriting the deficit) will allow the Outline Business Case, recently submitted to the Department for Communities, to progress through the approval process and bring forward the Growth Deal Signing to 29th April.”

The meeting concluded with agreement “To recommend that Council give approval to underwrite the current funding deficit (after Growth Deal funding) for the proposed Coleraine Leisure & Wellbeing Centre of £29m while other external funding sources are being pursued.”

The total Growth Deal investment of £125.3million aims to attract and grow businesses, regenerate rural settlements, improve tourism infrastructure and raise aspirations and employability across the borough.

Full story in this week's Northern Constitution.