Plans to build an iconic new bridge at Westfield that would link Helix Park, Falkirk Stadium and Forth Valley College look certain to be scrapped as the project is "unaffordable".
Despite getting £20 million of Levelling Up funding from the UK government, soaring costs mean that councillors will be asked to axe the plan at the next meeting of Falkirk Council executive.
However, while the bridge got most of the attention, it was just one part of a much bigger project to improve road links between Grangemouth and Falkirk and that work will continue, if councillors agree.
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The other part of the project that won't go ahead, however, is a proposed new roundabout at Middlefield which will now also be cut from the plans to save cash.
The report going to councillors shows that the UK Government has agreed in principle to go ahead with a grant of £14 million to allow traffic controls to be put in place to allow people to cross safely.
The rest of the work will be paid through TIF funding (tax incremental finance), which allows the council to borrow cash that is paid back through increased non-domestic rates generated by the new infrastructure.
The report going to councillors on Thursday recommends that councillors continue with the revised project.
It says doing so will also mean they can continue to press on with proposals for Falkirk Gateway site, which will be on land opposite Helix Park.
A developer has agreed heads of terms to deliver the Gateway site, promising that a "substantial development extending over 30 acres of currently undeveloped land will deliver a mixed use ‘urban quarter’ consisting of large retail units; business space; leisure uses; and a hotel".
The report states that the developer is fully aware of the revised approach proposed to the programme and has confirmed their continued commitment to the development.
The report will be heard at a meeting of Falkirk Council's executive on Tuesday, May 9. The meeting will be livestreamed on Falkirk Council's YouTube channel.
