Bedford Borough Council has agreed to release £4.5 million in developer funding to begin work on the long-planned Bedford to Milton Keynes Waterway.
At a meeting of the Executive on 10 September, councillors considered an update report which set out progress on the scheme and confirmed that costs are now estimated at £475 million, with the Bedford section accounting for around £117 million.
A business case prepared by consultants AECOM shows a positive benefit–cost ratio of more than two.
Read: Bedford – Milton Keynes canal connection “dream” takes big step towards reality
The council’s portfolio holder for for corporate services, cllr Marc Frost (Conservative, Wixams and Wilstead) told colleagues the project, first proposed many years ago, was now moving into a tangible phase.
“I’m really delighted to be able to say tonight that this is about taking the first step on a project which has been an aspiration and talked about for many, many, years and starting to deliver something which is a bit more tangible,” he said.
Ringfenced funds
He confirmed that Section 106 funding of £4.5m was about to be released, which is ringfenced for the Waterway and “can’t be used on anything else.” The first works are expected to include towpath improvements.
Councillor Frost also urged caution over some elements of the scheme, including proposals for a new footbridge at Mill Lane in Kempston.
“Whilst that is a worthy recipient, it is a little bit premature,” he said, explaining that surveys would need to establish water levels before any bridge design could be considered.
On governance, he argued for the creation of a Special Purpose Vehicle (SPV) to protect the council from future liabilities. “It distances this council from future liability,” he said, adding that while other partners were not ready to join immediately, they could do so later.
The report also highlights wider potential benefits of the Waterway, including opportunities for biodiversity, flood management and water transfer between regions, as well as complementing the proposed Universal Destinations theme park and East West Rail.
By John Guinn
Local Democracy Reporter
