The Director of Regeneration submitted a report, the purpose of which was to set out the progress made in the modernisation and transformation of Middlesbrough town centre; key issues which are emerging; new funding opportunities;  and, seeks approval for the case for strategic investment to support our main shopping thoroughfares and gateways.

The report outlined that Middlesbrough town centre, as with all retail environments, was in need of urgent structural changes to its economic landscape. The Covid 19 pandemic, coupled with deep-rooted consumer behavioural changes, meant that town centres must diversify their offer to remain relevant in the modern world.

Middlesbrough has a strong strategic vision to transform the town centre economy through a process of giving more reasons for people to use the town centre to Live, Work, Learn and enjoy Leisure.

In recent years, Middlesbrough has been successful in securing significant public and private investment for the town centre. Indeed Middlesbrough Council has invested C.20m in the investment of major town centre properties, giving the necessary control required to reshape the market place.

This direct investment has been supplemented by major Government funding to aid the transition to a modern town centre ecosystem. £14.1m of Future High Streets Funding (FHSF), along with £21.9m of Town Deal funding has laid the foundations for a major shift in the function of Middlesbrough town centre.

The scale and scope of the required changes are vast. Additional funding, and support from our strategic partners, is always being sought to aid the transformation of our economy. New issues and challenges are emerging all of the time and this is exacerbated by high inflation and a relatively bleak macroeconomic forecast.

With planned and strategic interventions there is significant confidence that the necessary changes can be made and will have the desired impact. The report highlighted some of the work being undertaken to strengthen Middlesbrough’s economy; these were as follows:

· Future high streets fund

· Towns Fund

· Emerging opportunities

The report further discussed the current issues within the town centre, including, for example anti-social behaviour.

OPTIONS

Other potential decision(s) and why these have not been recommended

N/A Part A of report for information only.

ORDERED

1.     That the information contained in Part A of the report be noted; and

2.     That the investment proposal, along with financial or exempt information, contained in Part B of the report be approved.

REASON

The decisions were supported by the following reason:

The investment proposal set out in part B of this report actively supports the town centre economy and supports measures to the issues outlined in paras 29,30 and 31.