The proposed deals would result in a £130 million investment over five years to support the building of new homes across Norfolk and Suffolk, including £30 million across Ipswich and Norwich. This will enable around 10,300 homes to be delivered. Over the lifetime of the deal around 200,000 homes could be delivered.
Negotiations with the Government have seen the funding on offer increase from £175 million for housing and £30 million a year for infrastructure, published in the original deal in March.
The Leader of Ipswich Borough Council, David Ellesmere, said, “It has taken a lot of hard bargaining to get the Government to improve their previous offer and this represents the best deal we can get for Ipswich at this time. There are still one or two final matters that need to be resolved before our Council meeting on 29th June but I believe everyone is committed to ensuring this happens.”
The Government has made it clear that councils need to approve the proposed deals before they will formally agree them and all councils and both LEPs will debate the matter before the end of June. If all councils and LEPs endorse the deal, and the associated governance scheme relevant to them, public consultation will take place during July and August.
Views from public consultation are reported to the Secretary of State for him to consider before creating combined authorities and putting in place arrangements for mayoral elections in May 2017.