£5M Fund to regenerate the region's waterways
Waterway Regeneration Fund
Following research carried out into the impact and importance of waterways across the East Midlands it was discovered that inland waterways projects significantly benefit an area’s economy.
The funding period for the Waterway Regeneration Fund is expected to last for three years and grants will be available up to the value of £500, 000 to help encourage waterway regeneration schemes.
The study into inland waterways, which was carried out by Ecotec Consulting on behalf of emda, found major regeneration benefits are associated with waterway developments, such as:
- Employment impacts: creation of new job opportunities in the short term from the construction during the regeneration and in the long term from new businesses created
- Property impacts: regenerated areas along waterways stimulate commercial and residential markets
- Environmental impacts: improving waterway environment by bringing forward previously vacant and underused sites which generates improved quality of life, tourism and green transport options
Previous waterway schemes have helped many urban and rural locations across the region turn themselves from areas characteristic of dereliction and decay into places where businesses actively want to be located and people want to live.
Cultural Organisations
Cultural organisations may find this fund useful if they are involved in larger scale development plans with other local businesses or, alternatively, deliver some of the additional activities that would contribute to the use of a riverside area.
Criteria
The Invitation to Apply for Grant Funding (IAGF) from emda aims to deliver long term regeneration benefits for the East Midlands for schemes located near waterways. The criteria for funding must fall under one of the five schemes:
- Waterways destination projects: which relate to tourism where restoration will lead to increased use of the waterway and its surroundings
- Restoration projects: which remediate redundant or underused buildings next to waterways for employment or commercial uses
- Land remediation projects: the preparation of land next to water in order to open it up for employment uses
- Large scale project development: work required to help unlock the potential of large scale waterway projects
- Waterway transport schemes: develop an alternative transport route or mode based around one of the region’s inland waterway corridors to help sustain economic competitiveness of green water transport
Anthony Payne, Land and Development Manager at emda said: “Waterways present a unique opportunity to improve the environment and regenerate areas - transforming them into successful, flourishing places which attract our communities and unlock the value of the sites".
The Waterway Regeneration Fund will open for expressions of interest from 12th June to 31st July 2007 for the first year. Any organisation interested in applying, or who would like more information should contact Georgina Walters McLeod at emda on 0115 9888 484 or visit www.emda.org.uk/waterwayfund
last updated: 22-06-2007 16:34