Council Announces Further Commitment to Capital Investment
Council announces further commitment to capital investment
02 September 2015
A number of key projects and programmes across the Derry City and Strabane District are set to benefit from a significant funding boost as announced at a meeting of the Council’s Governance and Strategic Planning Committee, subject to ratification by Full Council.
The additional investment builds on recent capital spending of over £44m for a range of projects and brings Council’s total capital investment programme to £64.416m, of which 50% has been secured from external sources.
The news is particularly welcome following the considerable cuts to grants and funding streams announced by central government in recent months, which have the potential to seriously impact on regeneration and investment in the area.
Speaking after the announcement Chief Executive of Derry City and Strabane District Council, John Kelpie reaffirmed that Council’s key focus remains on economic, social and environmental regeneration with specific emphasis on an ambitious capital investment programme.
“Today’s announcement brings us a step closer to the realisation of many projects, and we remain committed to securing the additional resources needed to strengthen and transform Derry and Strabane. I would now urge central government to step up and deliver on their commitments to the region.”
“The successful delivery of funding to support these key capital projects and programmes demonstrates our determination to meet our promises and drive the campaign to improve the prospects and quality of life of all our citizens.”
In recent months it’s estimated that the North West region has lost up to £6.2m in funding relating to the rates support grant, the transferring of functions, the disproportionate liability from a number of transferring assets, and the lack of capital funds to go along with DSD functions – all vital in allowing the Council to bring forward capital projects.
Mr Kelpie stressed that while significant amounts of capital investment have been achieved to date, Council will continue to exert pressure on central government to reduce budgetary cuts and commit further investment with a view to promoting sustainable growth within the region.