Papers going to next week’s Economy and Tourism Executive Advisory Committee (17th April) reveal that a bid to the Solent LEP for changes to highways infrastructure – when Red Funnel ferry terminals on both sides of the Solent move – could include funding for a new floating bridge in Cowes.
Part of the ‘Solent Strategic Economic Plan’
The council’s Solent Strategic Economic Plan was submitted to Government on 31st March 2014 and as well as plans for an IW Enterprise Zone, a Centre of Excellence for Composites, Advanced Manufacturing and Marine Technology and ‘renewal and refurbishment’ plans at the Isle of Wight College, there is mention of a funding bid for a new floating bridge.
The papers state,
Red Funnel – East Cowes/Southampton
This project seeks funding for the highways infrastructure needed to move the Red Funnel Ferry terminals on each side of the Solent. The project removes existing connectivity and capacity constraints on the visitor economy, while unlocking major employment sites in Southampton, and East Cowes.Specifically, the scheme asks the Solent LEP to fund the terminal access roads, cycling and walking routes, high quality waterfront areas, and a new ‘floating bridge’ between East and West Cowes, together with land assembly on the Southampton side.
Red Funnel ferries have separately applied to the Growing Places Fund for a loan to fund the purchase of land from the HCA in East Cowes. Beyond that, Red Funnel ferries will pay for the new terminals and ferry upgrades.
£3m costs to keep floating bridge going
Earlier this year, the Isle of Wight council proposed the introduction of foot passenger fares on the floating bridge in a bid to raise revenue, as the floating bridge nears the end of its life.
The proposal was withdrawn from the 2014-15 budget after it was pointed out that calculations included in paperwork didn’t add up.
If the bid to the Solent LEP does go ahead and is successful, it’ll take the pressure off the Isle of Wight council, who potentially face a £3m bill to keep the bridge running.
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Image: David C Jones under CC BY 2.0
