£2.4M flood prevention fund secured
Project Taunton has secured £2.4 million from the South West Regional Development Agency (RDA) for its flood protection scheme. The funding will be used for the 65 acre (26.5 hectare) Long Run Farm project to the west of the town where additional flood storage capacity will help protect the town from future flooding. The contract for the work is expected to be awarded in mid July.
Ian Franklin, Project Director of Project Taunton, said: "This is fantastic news for Taunton. It secures the future of the town against the impact of climate change and aims to protect it against flooding. In particular it safeguards Firepool, the new commercial area, and other key development sites as well as allowing the Third Way Road to be built. The investment is also significant as it is an indication of the RDA's confidence in Taunton and its plans for large scale and sustainable growth."
The money is part of the Regional Infrastructure Fund (RIF) which will see a total of £80 million being invested across the South West as a whole. It is in effect a loan which enables developments to progress and which will be paid back through Section 106 payments in the future.
