An extra £47,000 is to be spent on improving facilities in Market Rasen this year after the town council found it had money in reserve.
At the last meeting of Market Rasen Town Council, Mayor Steve Bunney revealed the authority had £106,000 in its general reserves and had been advised by its bank, RBS, that it only needed between £50,000 and £60,000.
Councillors therefore agreed to spend the excess reserves on a number of projects in the town over the next 10 months.
The extra money has been added to already earmarked reserves. This means £26,500 will be spent on the town’s parks and open spaces, the majority going to pay for new play equipment in Mill Road Playing Field, as previously revealed in the Rasen Mail.
£39,000 will be spent on refurbishing the Old Police Station and another £40,000 invested in replacing Festival Hall’s “sinking roof”.
Finally £3,000 will be spent on improvements to the town’s Market Place, including installing two new flag poles at the front of the square that can then be used to hang banners on to advertise upcoming town events. A new town clock will be installed on an arm extending from the Cooplands building.
Coun Bunney said it would be GPS controlled and should be visible to all passing through the town.
Coun Bunney said: “The council is very conscious that we need to improve the facilities of the town. We want to have facilities that look good so people will be proud of them and look after them.”
The town council is also planning on releasing £30,000 worth of section 106 development money given to the authority when Beechers Way was constructed.
Until now the money has been in a ‘high interest’ account, but Coun Bunney said rates were so low it would be better off investing it in the town’s open spaces and parks.