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        18 November, 2020

        Margate’s Town Investment Plan takes shape thanks to contributions from the community

        Following community and stakeholder engagement, and the ongoing work of the Margate Town Deal People’s Panel, the overall vision and identity of the Town Investment Plan has been agreed: Margate is Coming Together to Help Margate to Thrive 365. This is about creating a sustainable economy for the town that works for people all year round. Inherent in this is the aim that all residents and businesses benefit. 

        An important part of the Margate Town Deal process is the Town Investment Plan, which is currently being developed by specialist consultants PRD and We Made That. This will map Margate’s key characteristics; look at the challenges it faces and review the evidence of need as well as the town’s assets, strengths and opportunities. It also includes a strategy which considers Covid-19 recovery.

        The Town Investment Plan will also set out proposals for £25m of investments to help deliver the vision of Margate, where communities come together to help it thrive 365 days of the year. The projects are intended to help transform the town’s economic growth prospects. 

        Cllr Rick Everitt, Leader of Thanet District Council, said:
        ’The preparation of our Town Investment Plan has been driven by stakeholders in Margate, representing our anchor institutions, our communities and our businesses. I would like to say a big thank you to the community for their valuable contributions which are shaping our submission. We want to ensure that everyone in Margate will benefit.

        “I am also grateful to the People’s Panel and the Board for their enthusiastic commitment and engagement that is leading to the development of a Plan that we hope will be worthy of the Towns Fund investment. This is a great opportunity to bring transformational investment into Margate, capitalising on naturally inspiring cultural and heritage assets.

        More information about the community, stakeholder and business engagement that has been fundamental to the development of the Town Investment Plan can be found at thanet.gov.uk/mtd-haveyoursay. Here you will find the full engagement report and an infographic summarising what people told us about Margate now and in the future.

        Graham Razey, Chair of the Margate Town Deal Board said:
        “The development of the Town Investment Plan is only the first step in our commitment to engagement and collaboration with the community. 

        “We see it as the start of a process in which our strategy and investment priorities will continue to be shaped and refined through open dialogue with stakeholders and our communities in order to unlock jobs and opportunity for all.”

        In the next week, stakeholders and Margate Councillors will be given the opportunity to see the draft proposals. A video to explain the Town Investment Plan process, recommendations and what happens next will also be added to the website (margatetowndeal.co.uk) and shared on social media.

        Following submission to the Government, the Town Investment Plan will be assessed by a multi-disciplinary panel comprising officials from the Towns Hub (i.e. Policy, Project Management, Finance and Area Teams), different government departments and others including economists and finance specialists. The Government has said to expect around two months from the submission of the Plan to the offer of Heads of Terms. This is not guaranteed and in some cases may take longer. Where the Town Investment Plan is of the required standard, the Government will assess the projects included to decide on an initial funding offer.

         

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