£18m Attleborough relief road dream still alive as Norfolk County Council agrees to look into loan
- Credit: Archant
An £18m link road to ease congestion around Attleborough is another step closer after a Norfolk County Council (NCC) committee agreed to investigate loaning money for the project.
The council's policy and resources committee today (Monday, March 27) agreed at a meeting at County Hall to develop a proposal for the loan, which would link the A11 London Road and Old Buckenham Road.
The loan would be made to development promotion company Ptarmigan Land, which is the promoter of a scheme to add another 4,000 homes to the market town.
Simon George, NCC's executive director of finance, said the money would come from the council's estimated £120m-£150m in cash reserves.
Mr George said the loan could be made with a 3.5pc-4pc interest rate, well above the 1pc usually offered by banks.
Councillor Bill Borrett, committee member, was in favour of the idea, and said: 'Attleborough needs this road and the county council can get a proper return.
'It's something that's going to benefit everybody - the ratepayers of Norfolk and the residents of Attleborough.'
Council leader Cliff Jordan, who chaired the meeting, added: 'It really is important to Attleborough.'
- 1 PICTURES: The best-dressed punters at Fakenham Ladies Day
- 2 Driver caught hitting speeds of 119mph on A47
- 3 Homes destroyed after blaze breaks out in terraced housing
- 4 Can you answer these 10 GCSE questions designed for 16-year-olds?
- 5 City burger joint takes beef off the menu
- 6 More cameras could be on way to fine law-breaking Norfolk motorists
- 7 Crash closes part of B1145 in west Norfolk
- 8 Investigation closed after cash stolen from popular attraction
- 9 Key worker couple celebrate 'fairy tale' day after winning £32,000 wedding
- 10 A Hunstanton institution closes after almost 50 years
Ptarmigan approached NCC for the loan so construction could start on the road before the first of the new homes planned for the south of the town.
Mr George said: 'The proposal is essentially to change the order of how the development happens.'
The firm said previously said they were not able to begin building the road 'until a significant number of new houses have been built.'
Attleborough Town Council has been pushing for the link road, as traffic snarl-ups and access to the town are already a major concern.
Jeremy Burton, town mayor, said going ahead with the new homes before the link road was built would bring the town centre to a standstill.
The project was a major issue at a public meeting about traffic around Attleborough held at the town hall in January.
A detailed plan for the loan would have be approved by the council's committee, and also go before the full council, before it is offered.
What do you think? Email firstname.lastname@example.org