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Council Consider £2m Property Fund

Tuesday May 27 2014

Town Hall Town Hall

A £2 Million property investment fund to help develop commercial sites to attract more businesses to Barnsley is being considered by the council.

The recommendation was made by an economic growth watchdog, led by councillors, which looked into creating the right conditions for growing the town's economy and prosperity.

It focused on the development of sites earmarked for commerical use, or those likely to be designated as such in future through the Local Plan.

The report says the £2m could be allocated from the economic strategy investment budget but this would require formal approval by the council's ruling cabinet.

It reported how some land is being held by developers awaiting an improvement in the economy and, should that improvement be maintained, these sites may be released by developers in future.

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