A - Development Investment Fund (DIF)

Value

£7m

Purpose

The limited availability of good quality serviced sites and premises is a key constraint upon local economic growth in Shipley. In addition, the increasing lack of affordable housing available particularly in the town centre area is proving a constraint on inclusive local economic growth.

Objectives

Provision of new industrial floorspace to support growth in key sectors
Bring forward industrial development projects that would not otherwise be viable and have consequently stalled
Bring forward residential development/refurbishment projects in or close to the town centre
Contribute to local economic growth (for example, jobs and investment) or provision of affordable homes
Promote and embrace net zero carbon objectives
Contribution to quality living space, affordable to local people

Position up to February 2024

The project is currently at high risk due to interdependencies that are being worked through by Council Officers. This includes, but not limited to, negotiations with a private sector developer to determine the financial requirements to achieve the outputs; ensure a scheme can be delivered within the specified timescales; and, finally, to manage the inflationary pressures that will determine the viability of a preferred scheme. There is a project plan and expectations that a Memorandum of Understanding will be signed within Quarter 1 of 2024.

Project sponsor

Bradford Council

Further information

For further information on this project contact Ravinder.Panesar@bradford.gov.uk.