New schools, road improvements and upgrades for sports facilities, the city centre and our community’s heritage are all part of a £530m investment pledge by Swansea Council for the coming years.
Millions of pounds has been set aside to help fix roads and potholes under the council’s capital budget plans for the coming 12 months.
On top of that almost £300m has been earmarked for a new generation of school improvements as well as a state-of-the-art new special school to replace YGG Crug Glas and Penybryn.
In the city centre work will start in the coming months on the much-anticipated revitalising of Castle Square Gardens into a modern, green community landmark.
And £18m has been set aside in the coming 12 months to continue with the council’s commitment to protecting and enhancing our city’s heritage at Hafod-Morfa Copperworks.
Rob Stewart, Leader of the Council, said: “Our investment, coupled with funding from the Welsh Government, UK Government and others will be truly transformational.
“It will change the lives of young people, boost our economy, creating and protecting jobs while making sure the bread-and-butter issues that matter to the people of Swansea are addressed as well.
“Alongside our commitment to the big-ticket items that are essential to boost our city’s future, we are also making sure that our roads and potholes will continue to be fixed with millions of pounds more being spent in the coming year.
“There’s also more money being invested in our hugely-successful play areas improvement programme as well as community sports facilities and other initiatives.
Among the projects highlighted in the Capital Budget report to Cabinet are:
- Around £7m for additional highways improvements with more funding to come from the Welsh Government in the coming weeks
- £1m to complete the city centre Y Storfa community hub later this year.
- £8.8m over the next two years for Castle Square Gardens
- An initial £2.5m this year for a new £51m new school for YGG Crug Glas and Penybryn
- £18.2m for heritage projects in the Lower Swansea Valley
- £1.3m for a 3G pitch at Bryn Tawe comprehensive school
- £2.8m to complete the Mumbles sea wall transformation
Funding for the projects will come from a range of sources including City Deal coffers, Welsh and UK Government grants.
The council’s contribution will be funded through capital receipts, revenue, use of reserves and some ultra low-cost long term fixed rate borrowing arrangements already put in place.
There will also be some deferred borrowing to come as interest rates are expected to continue to drop, maximising the value and minimising the cost of borrowing.
Cabinet agreed the capital budget at it its meeting on February 20 and will be making its final recommendations to full council on March 6.
