Highways Asset Management funding streams are now available for local authorities to bid for and grants awarded.
This funding is for local authorities to ensure they are following an asset management approach and adopting efficiency and best practice principles for local highway maintenance. The funding is a mechanism for authorities to receive additional funding over and above the Needs Based Formula.
Northamptonshire has submitted the ‘self-assessment questionnaire’, signed off by the Section 151 officer and has determined that the authority currently sits within Band 2 and as a consequence should receive £1,144,466 budget allocation.
Pothole Action Fund
The Pothole Action Fund was announced in the 2015 budget and totals to £250 million. The purpose of this budget is to help to tackle potholes or to stop them forming in the first place. The funding for Northamptonshire for 2017 to 2018 is £1,171,000.
This fund is to enable local highway authorities in England to bid for major maintenance projects that are otherwise difficult to fund through the normal Needs Based Formula funding they receive. Funding in 2017 to 2018 will be allocated through a bidding round. Northamptonshire has put forward a bid for the following:
A605 Thrapston to County Boundary asset renewal and upgrade scheme
The scheme provides for major asset renewal and upgrade along sections of the A605 between Thrapston and the County Boundary, improving safety along the route, upgrading safety features and removing the need for frequent remedial patching works. The Department for Transport have stated that nationally “It is expected that around 10 schemes will be funded”.
National productivity investment fund
The National productivity investment fund is new funding for local highway and other local transport improvements. The funding aims to reduce congestion at key location upgrades, or to improve the maintenance of local highway assets to improve access to employment and housing, and to develop economic and job creation opportunities.
Northamptonshire will receive £2,907,000 from this fund, we will be using the fund to deal with issues in addition to the normal funding sources to tackle projects, which would be difficult to fund from the local highways maintenance capital block funding. We propose to split the budget as follows:
- Carriageway - £588,235
- Structures - £936,412
- Intellegant Transport System - £970,588
- Integrated transport - £411,765