Member Article

North East coast could benefit from £29m pot

Businesses and councils on the North East coast will have the chance to bid for their share of a £29m regeneration pot.

Chief Secretary to the Treasury, Danny Alexander announced that next year’s Coastal Communities Fund will be worth £29m, an increase of 5% on last year.

North East schemes benefited from last year’s tranche of funding, including £500k for the redevelopment of Blyth riverside; nearly £1.9m for the redevelopment of Whitley Bay’s Spanish City Dome; and £2m for the redevelopment of Sunderland’s seafront.

In the south of the region, £600k was awarded to stimulate Great Yarmouth’s economy; and Redcar and Cleveland Borough Council secured £580k for landscape and nature conservation schemes on former industrial sites.

The Fund draws on the Crown Estate’s marine activities, and revenues from renewable energy and ship moorings will make up the pot.

Danny Alexander said: “The Government created the fund to enable coastal areas to share in the gains from our marine resources, and that is exactly what it is doing.”

A Treasury spokesperson successful bidders from earlier rounds were welcome to bid again, and would be judged on potential to create jobs and prosperity.

England will received £22.15m of the £29.1m share.

This was posted in Bdaily's Members' News section by Tom Keighley .