Funding agreed for Cheltenham's National Cyber Innovation Centre
Cheltenham Borough Council has agreed a funding package to secure construction of the National Cyber Innovation Centre.
The agreement this week secures the delivery of two key buildings namely the National Cyber Innovation Centre and Mobility Hub.
The £95m project will be funded from borrowing and the sale of council assets.
The centre will be built on land at the Golden Valley Development which aims to develop 200-hectares of land beside GCHQ in West Cheltenham into a garden community integrating hi-tech business, residential and leisure uses.
Councillor Mike Collins, cabinet member for cyber, regeneration and commercial income at Cheltenham Borough Council said: ‘’I am pleased that we have taken a huge step forward in the delivery of our Golden Valley ambitions and now have a development funding agreement to enable us to move forward with this first phase. This is significant and will give us assurance on a number of levels. Funding a project of this scale and nature comes with associated risk but this agreement provides us with a number of protections through a variety of clauses and conditions that must be satisfied before any funding is provided.’’