Hertfordshire must find an extra £3.6bn to pay for new health buildings and other major infrastructure projects.
A report published by the County Council, the Infrastructure and Funding Prospectus 2018-2031, warned that decades of funding projects to meet the rapid growth in Hertfordshire driven by its close proximity to London has left deficits in all infrastructure areas.
The council is part of the Hertfordshire Infrastructure and Funding Partnership (HIFP) which was formed with other local authorities in the area plus the Hertfordshire Local Enterprise Partnership (LEP) to find ways to reduce costs and improve delivery of projects in local area plans.
The partnership’s total secured and expected funding for infrastructure up to 2031 comes to around £2.1bn leaving a funding gap of £3.6bn at 2018 prices or 63% of the total infrastructure cost in Hertfordshire to 2031.
The authorities were urged to consider pooling funding sources and delivery mechanisms to meet their needs which includes demand for 97,411 homes.
A report to councillors said: “It will also be useful in discussing infrastructure needs with the development industry.
“Longer-term next steps include prioritising infrastructure projects.”
