YORK will learn today whether it will get millions of pounds in funding for several major projects around the city.

A key regional finance committee is due to meet in Leeds, and could approve investment in York’s Guildhall complex, as well as long awaited improvements on the ring road and access work for a potentially huge new housing development.

York is a partner, but not a full member, of the West Yorkshire Plus Transport Fund which has millions of pounds of Government money to spend on transport in the region.

If a deal can be struck, that fund is poised to pour millions into improvements on York ring road roundabouts and infrastructure work on the York Central development.

Last week, York’s transport boss Cllr Ian Gillies said they were in talks with West Yorkshire over the terms of the funding, to find out whether it or other funding sources would be the best deal for the city.

Now papers prepared for today's meeting show the investment committee is ready to include York, as its two schemes are seen as “early win” programmes. If that decision goes ahead, City of York’s ruling executive will be asked to approve the arrangements, and accept the funding, in December.

The same meeting is likely to see a separate £2.35 million grant confirmed for the major redevelopment of the Guildhall complex.

The money will help fund ambitions to transform the old council offices into business club and serviced office centre, with a restaurant and a cafe on the site - a deal which council bosses say could bring £66 million to York’s economy.

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Cllr Gillies added: “If approved, this is welcome news for York. The proposal will help provide the necessary funding to transform the Guildhall complex and ensure the future viability of one of York’s most significant buildings through the creation of a vibrant business and civic venue, with supporting commercial development on the riverside, maximising its economic use, heritage appeal and public access.”

A planning application for the redevelopment was submitted earlier this year, but has faced opposition from heritage groups like York Conservation Trust and English Heritage, who support the overall idea but are worried about the size of the new restaurant building.

Flood concerns have also been raised, with Environment Agency experts warning that compensatory flood water storage may have to be found to make up for the space lost to the new development.

The planning application is due to be decided in December and councillors will look at the full business case in March next year.