Two projects that will deliver a major boost for communities in Oban are making significant progress.
At a meeting of P站色情片鈥檚 Development and Economic Growth Committee councillors were updated on the Dunbeg Corridor and Oban Airport Business Park projects.
Both developments are being funded by the Lorn Arc Tax Incremental Finance (TIF) agreement.
In February, the council confirmed that the scheme would be extended by 10 years, allowing additional time to implement these key infrastructure and development improvements which are expected to deliver a significant economic boost to the wider Oban area.
LINK RSL has submitted four planning applications for Phase 4 development at the Dunbeg Corridor, which has already delivered 375 affordable homes and significant infrastructure upgrades. The latest phase will include approximately 430 residential units including social rent, mid-market rent, student housing, shared equity, private sale and plots.
In addition, a new trunk road roundabout will be constructed on the A85, a new residential link road, and a commercial area which may include an hotel, drive through restaurants, and small supermarket.
Substantial progress is also being made at Oban Airport Business Park with initial site works now completed. Planning consent has been granted for the two initial buildings to be developed and the design team and main contractor have been appointed, with the majority of work expected to be completed in 2026. It is estimated that the two developments could add between 拢50m-拢179m to the local economy.
Council Leader, Councillor Jim Lynch, said:
鈥淕iven the current challenging economic climate, the extension to the Lorn Arc scheme was excellent news for our communities in Oban.
鈥淎s the latest updates demonstrate, these two major projects are progressing well and have the potential to deliver significant benefits for the area, creating new jobs, enhancing key infrastructure, boosting local businesses and supporting the wider Oban economy.鈥
The TIF Project was developed by Scottish Futures Trust (SFT) and enables the council to retain a proportion of Non-Domestic Rates in a defined area to finance investment in local infrastructure. P站色情片 and Bute is just one of four local authorities in Scotland with a TIF project and the extension is part of an agreement between the council and the Scottish Government.
