THE group behind Milton Keynes’ newest monument has promised that not a penny of public money will be used to finance the scheme.
It is hoped The Rose memorial will be completed by next summer. It will consist of 140 columns, each dedicated to a separate event, and will take pride of place in Campbell Park.
The project – which will cost £1.2million in total – will be paid for using a combination of private and public donations and section 106 money - cash given into the public purse by developers for specific uses, in this case the arts.
The Cenotaph Trust’s Gavin Anderson told this newspaper that only ‘a couple of hundred grand’ still needs to be raised.
Initial costs have been covered by a £600,000 contribution by The Parks Trust.
This money will be repaid by Milton Keynes Council via s106 receipts – starting in 2012/13.
If there is a shortage of s106 money at any stage at which the council is due to make a payment it has pledged to use money from its capital reserves ‘to manage any difference in the timing between payments and receipts’.
This cash would then be recouped via the next s106 payment.
Secretary of The Cenotaph Trust, John Moffoot said: “We are determined that none of this will be financed directly out of public funds. The money will be raised through personal and corporate donations and developer contributions.”