Post by Loudnproud on Oct 29, 2003 11:07:08 GMT -5
[glow=red,2,300]LIVERPOOL will get £82m to prepare the city before it becomes Capital of Culture in 2008, it was announced today (Wednesday, October 29).[/glow]
European regeneration leaders unveiled the Objective 1 cash and said it will bring Merseyside in line with the richest parts of Europe.
The £82m will increase to around £200m through compulsory match funding from businesses and the public sector.
A sum of £65m is earmarked to improve Liverpool's world-famous waterfront, to be spent mainly on the Kings Dock and Fourth Grace developments.
A further £17.5m will go towards developing tourism in Merseyside and preparing the region to welcome its projected 1.7m visitors in 2008.
This includes £10m to help finance the European Capital of Culture events programme.
John Flamson, Objective 1 North West programme director, said today: "The Capital of Culture is a business opportunity for Merseyside not just Liverpool.
"It is a boost to the energy that is already there. It will have an impact on investor confidence in the whole area."
He added: "The £65m to be spent on the waterfront represents 12% of the remaining money which Objective 1 has to give out."
Under Objective 1 rules, the recipients of the grant must find an additional sum of match funding.
The total amounts to 40pc European money and 60pc additional public and private sector cash.
This will also be ploughed into ensuring that key developments are constructed in time for the celebrations in 2008.
Objective 1 leaders will announce how the money allocated for the waterfront will be divided up next year.
But they have said the two projects due to receive the lion's share of the cash are the Fourth Grace development, Mann Island, and the beleaguered Kings Dock arena.
A short-list of six architects for Kings Dock is to be announced by city centre regeneration company Liverpool Vision on Friday morning.
Coun Mike Storey, the leader of Liverpool City Council, said the funding was crucial to ensuring the city will be ready to accept the European title.
He said: "It is good that we are going to have money to realise our dream of developing the waterfront.
The Capital of Culture team last night welcomed the announcement.
Sue Woodward, Liverpool Culture Company's creative director, said: "We have got some fantastic events and projects planned in the run up to 2008 that, with this money combined with funds from our partners, we can help elevate to a truly world-class status."
[glow=red,2,300]An independent economic report has predicted the title will bring £1bn of investment to Liverpool and create as many as 14,000 new jobs.[/glow]
Additional tourism trade alone could be worth £50m per year.
by Catherine Jones and Ian Hernon, Liverpool Echo
Aparently Europe have given us this because of how well the money has been used in the past!
European regeneration leaders unveiled the Objective 1 cash and said it will bring Merseyside in line with the richest parts of Europe.
The £82m will increase to around £200m through compulsory match funding from businesses and the public sector.
A sum of £65m is earmarked to improve Liverpool's world-famous waterfront, to be spent mainly on the Kings Dock and Fourth Grace developments.
A further £17.5m will go towards developing tourism in Merseyside and preparing the region to welcome its projected 1.7m visitors in 2008.
This includes £10m to help finance the European Capital of Culture events programme.
John Flamson, Objective 1 North West programme director, said today: "The Capital of Culture is a business opportunity for Merseyside not just Liverpool.
"It is a boost to the energy that is already there. It will have an impact on investor confidence in the whole area."
He added: "The £65m to be spent on the waterfront represents 12% of the remaining money which Objective 1 has to give out."
Under Objective 1 rules, the recipients of the grant must find an additional sum of match funding.
The total amounts to 40pc European money and 60pc additional public and private sector cash.
This will also be ploughed into ensuring that key developments are constructed in time for the celebrations in 2008.
Objective 1 leaders will announce how the money allocated for the waterfront will be divided up next year.
But they have said the two projects due to receive the lion's share of the cash are the Fourth Grace development, Mann Island, and the beleaguered Kings Dock arena.
A short-list of six architects for Kings Dock is to be announced by city centre regeneration company Liverpool Vision on Friday morning.
Coun Mike Storey, the leader of Liverpool City Council, said the funding was crucial to ensuring the city will be ready to accept the European title.
He said: "It is good that we are going to have money to realise our dream of developing the waterfront.
The Capital of Culture team last night welcomed the announcement.
Sue Woodward, Liverpool Culture Company's creative director, said: "We have got some fantastic events and projects planned in the run up to 2008 that, with this money combined with funds from our partners, we can help elevate to a truly world-class status."
[glow=red,2,300]An independent economic report has predicted the title will bring £1bn of investment to Liverpool and create as many as 14,000 new jobs.[/glow]
Additional tourism trade alone could be worth £50m per year.
by Catherine Jones and Ian Hernon, Liverpool Echo
Aparently Europe have given us this because of how well the money has been used in the past!
