A LOAN of £14 million is to be taken out to get Worcestershire's parkway rail station off the ground - bringing the long-awaited project closer to fruition.

Your Worcester News can reveal how Worcestershire County Council has agreed to endorse a financial package to get the station up and running by May 2017.

During a debate at County Hall, the Conservative leadership also insisted it would not allow any delays over the project, insisting private landowners cannot "derail" it.

We can reveal:

- The total construction costs have been firmed up at £21.9 million, which leaves £14.4 million needing to be found taking into account the £7.5 million already confirmed by central Government

- In a meeting on Thursday councillors unanimously agreed a loan could be taken out, probably via the Government-backed Public Works Loans Board, which offers cash at virtually rock-bottom interest rates

- A 25-year forecast has been drawn up revealing how over that period, taking into account maintenance, admin, debt repayments and other bills, the station will cost £47 million

- The council says it aims to ultimately make parkway break-even, with car parking charges and "train operator access fees", a commercial levy to use the station, ensuring a balance sheet of zero by 2042

- The council aims to secure train operator fees of £35.8 million by then and £4 million in parking charges It comes amid a private wrangle with Norton Parkway Developments Ltd, which controls the land and wants to build it privately.

The council has already agreed it will issue a Compulsory Purchase Order (CPO) if need be.

Councillor Simon Geraghty, deputy leader and cabinet member for economy, skills and infrastructure, said: "May 2017 is not a long time away and I know we've been talking about this for many years, decades.

"People don't need to be concerned about the parking charges, £4 million is relatively small over 25 years - we will look at comparable sites and set it accordingly."

After questioning on the CPO, he added: "We must make sure we've got a viable and deliverable scheme.

"People have struggled for years to get this project where it is today, the county council wouldn't want it derailed at this late stage."

The company says it is happy to negotiate on a 'joint agreement' over the development, but that it will not be bullied into handing the site over.

It also insists it could build the site cheaper, with private talks rumbling on in recent weeks in a bid to find a solution.

A planning application by the county council is due to be submitted next month over the station, which will have a 500-space car park.

The report on the finances says it is “crucially dependent” that train operator access fees meet council expectations in order for parkway to break even.

It says if that does not prove successful, the council would have to consider using revenue budget funding to keep the project viable, although that tactic is by no means a prospect at this stage.

Councillor Adrian Hardman, the leader, said: "It has long been an ambition for this county to finally have this, and we were delighted we’ve been successful in getting that £7.5 million through the Strategic Economic Plan (SEP) to start to make that a reality.

“We are very keen to press on with this work because 2017 and the dualling of the Cotswold Line in 2019 will be fast upon us.

“It will be a tremendous asset for the county and aid us in other areas too.”