Wandsworth Council Unveils Borough-Wide Infrastructure Investment Initiative
Wandsworth Council’s Finance Committee has greenlit an ambitious initiative designed to pool developer funds into a single borough-wide investment pot dedicated to local improvement. This strategic shift aims to maximise the impact of local infrastructure improvements, ensuring that every corner of the borough benefits from development projects.
A Vision for a Better Wandsworth
Simon Hogg, Leader of Wandsworth Council, emphasised the transformative potential of this new approach. “We want to ensure that funding we collect from developers is used to benefit growth and renewal across the whole borough,” Hogg stated. “For example, the developer funding from Nine Elms will help to improve transport infrastructure in Roehampton and the wider area. This is the first important step in rebalancing investment and maximising the benefits of any local development and improvement for residents across all of Wandsworth. These changes will help make it a better place for everyone regardless of where they live or work.”
The new initiative promises enhancements to roads and pavements, sustainable travel initiatives, and public transport infrastructure. These improvements are expected to facilitate safer and quicker travel within the borough while fostering a more conducive environment for growth and economic opportunities.
Understanding Developer Funding
The council collects the Strategic Community Infrastructure Levy (SCIL) from developers, which is then invested in local infrastructure to mitigate the impact of new developments on existing services. Previously, funds from developments in Nine Elms were restricted to that area. The new policy will un-ringfence these funds, enabling a borough-wide approach to infrastructure investment, aligning Wandsworth with other leading CIL-collecting authorities nationally. The committee’s recommendations now await approval from the Council’s Executive.
As Wandsworth embarks on a decade of local improvement, a series of transport and highway improvements are set to commence in areas like Tooting and Roehampton. Meanwhile, ongoing projects in Nine Elms will continue, with the pipeline of initiatives undergoing regular review as part of the council’s capital programme.
Focusing on Community Priorities
Earlier this year, the Neighbourhood Renewal Fund was established to address the priorities of local residents, utilising the Neighbourhood Community Infrastructure Levy (NCIL) to make targeted local improvements. This fund seeks to ensure that projects align with the needs and desires of the community.
The council is also enhancing its engagement with developers, urging early community involvement in the planning process to ensure that developer contributions yield the greatest benefits. Recently, an open day for residents near Thessaly Road Oasis was held to gather input on utilising developer funds to enhance the community space.
The announcement comes from the Labour-controlled authority following the UK General Election on 4th July, in which all three constituencies in the borough returned Labour MPs.
For more details on the Neighbourhood Renewal Fund and other initiatives, residents are encouraged to visit the Wandsworth Council website.
This move by Wandsworth Council reflects a desire to bring a wave of positive change and local improvement, promising a brighter, more connected future for all its residents.
