West Cornwall MP Derek Thomas has praised the combined work that has resulted in Penzance successfully winning through to the second stage of the £675 million Future High Streets fund.
Penzance is now in with a chance of attracting up to £25m of Government investment in its town centre thanks to work led by the local community with support from Cornwall Council.
The Future High Streets Fund is a key part of the Government’s plan for town centres, providing up front revenue support to help develop detailed business cases and then, if they are successful, co-funding towards capital projects that transform and regenerate town centres through innovative proposals around transport, housing delivery and public services.
Penzance was put forward by Cornwall Council due to the unique mix of regeneration opportunities available to tackle the challenges faced by the town and has been supported by local partners and stakeholders, the Penzance Place Shaping Board and Regeneration Group, businesses and community organisations.
“It’s excellent news that Penzance has won through to the next stage of the Future High Streets Fund,” said Mr Thomas.
“Everyone involved in putting together the bid recognises that we have to work together to get the best result for Penzance and the surrounding area.
“The way that we have approached the Future High Streets fund and the fact that we are now just one of a few towns to be short-listed in a very competitive process is an encouragement to us all.
“We understand the challenges facing us here in Penzance and a lot of work has been done to understand what the solutions should be.
“I am confident that we can now put together a convincing and compelling case for this investment.”
The final decision will be made once a detailed business case is developed for the specific projects in the town centre.