THE highly-anticipated market place regeneration project in Cirencester has moved one step closer, as the government allows the town council to borrow £1.4million.

Cirencester Town Council was delighted to announce at its latest town council meeting that the Department for Communities and Local Government has approved a bid of £1.4million towards the town centre regeneration scheme.

Mayor of Cirencester Cllr Mark Harris said: "I'm delighted we have this vote of confidence for regenerating the Market Place.

"At last we can begin to deliver the aspirations of many previous generations of townspeople and councillors for the benefit of many future generations of Cirencester people and visitors to the town."

The main priorities of the scheme are to improve the historic core of the town, create a new community space, re-design road layout and traffic flow, improve access and parking facilities, minimize unnecessary through traffic and enhance public amenities – providing community and economic benefits for Cirencester.

To be able to borrow money from the government, the town council had to show it had strong financial management and also evidence that the public were behind the scheme.

In 2013, the council received overwhelming support from the public with 936 questionnaire responses, plus 54 via the internet and 240 Facebook likes all voting in favour of the scheme.

A total of 70 per cent of people agreed with improving pedestrian areas; 67 per cent supported plans for a new community space; 60 per cent agreed with plans for seven day parking facilities (including parking for taxis and blue badge holder) and 65 per cent supported creating a public transport hub nearby in South Way.

As part of the 2013 consultation the council asked the public if they would support an increase in the local council tax to fund this and similar projects. Around 53 per cent supported an increase in the precept of between £5 and £15 per annum.

Through proper financial management the town council intends to minimize future increases to around £3 per annum based on a band D household.