Around £200,000 will be spent on 120 car parking spaces at the district council after plans for a multi-storey facility collapsed.
As part of the Gateway site redevelopment, Aylesbury Vale Estates had been expected to fund a multi-storey car park costing several million pounds.
However, following a change in how affordable housing is funded less money was available for the development, which also includes housing and commercial space.
As a result, Aylesbury Vale Estates could not afford to pay for a multi-storey car park and has been working with the council to find a solution.
It has now been decided the best option is a 300-space surface car park over a larger area, jointly funded by the council and Aylesbury Vale Estates. As a result there will be less space for commercial and residential development at the site.
The council’s deputy chief executive Jon McGinty said part-funding the surface car park, which will be for the exclusive use of council staff and visitors, was the best option available. Had the council not backed the deal to provide £200,000 for 120 spaces, it would likely have had to fund the entire car park itself for around twice the price.
Mr McGinty said it is not possible for the council to continue using its current surface car park as the site is set to become part of the housing and business development.
At a cabinet meeting, some district councillors expressed concern at having to fund the project, but agreed to do so.
The council owns 50% of Aylesbury Vale Estates, but the authority does not provide funding for it, except through commercial loans which are paid back.
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Weather for Aylesbury
Sunday 19 May 2013
Temperature: 10 C to 19 C
Wind Speed: 12 mph
Wind direction: North
Temperature: 11 C to 18 C
Wind Speed: 15 mph
Wind direction: North