"As the project continues to develop, this ensures financial arrangements supporting that regeneration are robust, transparent and provide value for taxpayers. The arrangements cover borrowing within the approved £350 million loan facility available to STDC and establish clear repayment principles, monitoring arrangements and financial controls for both existing advances and future borrowing. Mr Cooke said: "Teesworks is one of the most significant regeneration projects in the country, and it’s vital that the financial arrangements supporting its continued development are strong, transparent and accountable. "Independent assurance has demonstrated the strength of these arrangements, giving us confidence that regeneration can continue while delivering value for taxpayers across Tees Valley." The proposals form part of TVCA’s wider commitment to strong governance, accountability, and financial management across its regeneration activities.