Towns Fund


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In September 2019, the Government invited 100 places across England to each apply for up to £25m funding. This funding is to encourage economic regeneration. Read further information on the town fund prospectus.

Town Fund Prospectus

Four of the places identified as part of this initiative are towns in Cornwall:

  • Camborne
  • Penzance
  • Truro
  • St Ives

The focus of the regeneration is on

  • urban regeneration
  • planning and land use
  • skills and enterprise infrastructure
  • connectivity (both physical and digital)

A Town Deal is an agreement in principle between government, the Lead Council and the Town Deal Board. It sets out a vision and strategy for the town, and what each party agrees to do to achieve this vision. Cornwall Council is the Lead Council for the Town Deals programme in Cornwall.

Each of the four towns has established a dedicated Town Deal Board, comprising representatives from;

  • Government
  • Cornwall Council
  • Town/Parish Council
  • other stakeholders from local business and enterprise

Each Town Deal Board consulted with residents and businesses and worked in collaboration with Cornwall Council to create their Town Investment Plan.  The Town Investment Plans outline the projects that each town wishes to implement. This is in consideration of their specific requirements for growth and regeneration.

In the Summer 2021, Government announced up to £88.7m to support the Town Investment Plans in Cornwall.

As requested by the government, the projects listed in the four Town Investment Plans have submitted their individual Business Case development to Cornwall Council for review. A business case provides further details on the project before it can be approved, this includes its costs, how it will be managed and its impact. A business case is used to demonstrate that the project is feasible and financially viable. As Lead Authority for Cornwall, Cornwall Council’s role is to assess each project’s business case and sign off the projects alongside the Town Deal Boards. Following this process, the projects approved to go forward, will be included in each of the town’s final Town Deal programmes and submitted to Government by July 2022. Cornwall Council is expecting the government to review the finalised Town Deal projects and formally allocate the funding for each Town in the early part of autumn 2022. After the funding is confirmed by Government, each project will receive a contract and be able to start.

Some projects, particularly the smaller ones, are expected to be completed earlier than the larger scale ones. All projects funded by the Towns Fund must be completed by the end of March 2026.

You can find more information about each Town Deal by visiting their dedicated websites below:

Visit Camborne Town Deal website

Visit Penzance Town Deal website

Visit Truro Town Deal website

Visit St Ives Town Deal website

Town Boundary Maps

All Town Deal Board members have signed up to a code of conduct. This is based on the Seven Principles of Public life (the Nolan Principles).

Each Member of the Town Deal Boards is required to provide a Declaration of Interest form, these are available on request. Members also declare interests at the beginning of each Board meeting, this information can be found within the Board meeting minutes.

View the Seven Principles of Public Life

Town Deal documents

Please see below for documents relating to the town deal including:

  • codes of conduct
  • terms of reference
  • agendas
  • minutes

Camborne Town Deal Agendas


Camborne Town Deal Minutes

 

Camborne Town Deal terms reference and code of conduct

 

Penzance Town Deal Agendas


Penzance Town Deal Minutes


Penzance Code of Conduct and Terms of Reference

 

St Ives Town Deal Agendas


St Ives Town Deal Minutes


St Ives Code of Conduct and Terms of Reference

 

Truro Town Deal Agendas


Truro Town Deal Minutes


Truro Code of Conduct and Terms of Reference

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