Rising costs puts new junction project on hold
The council have not confirmed how much more the project will now cost
At a glance
Final phase of new junction on the A361 North Devon link road in Tiverton put on hold
A report by Mid Devon Council said the projected costs had soared
- Published
The final phase of a new junction in Tiverton has been halted due to rising costs.
Mid Devon Council said the A361 North Devon link road in Tiverton project was in its final stages, with a bridge set to be built along with northern slip roads and landscaping.
Councillors paused the final stage of the project due to the rise of construction costs, prices of materials and a need for greater contingency.
The council secured £8.2 million in funding from its original bid of £10.1 million from Homes England.
In a report, the council said it would find additional finances to complete the project without having to borrow.
“The scale of the funding gap means that the borrowing would be significant and, in the current financial and economic context, would add significant further financial pressures to the council," the report said.
Cabinet member for planning and economic regeneration councillor Richard Chesterton said it remained a "very important project".
"Officers will continue to work on this project in conjunction with key stakeholders including Homes England as quickly as possible,” he said.