26/11/2002
Vacant security bases to undergo regeneration
Direct rule minister Ian Pearson has published plans that will see the regeneration of security force bases vacated as part of the normalisation process.
The draft Order sets out how a Strategic Investment Board would develop Northern Ireland's infrastructure in a way that makes best use of the means and resources available. The Order also sees the regeneration of military bases and security sites, which are to transfer free of charge for social and economic regeneration of local areas.
The move is part of the Reinvestment and Reform Initiative, which was set up by the devolved administration before its suspension on October 14.
The initiative is designed to address the substantial deficiencies in infrastructure and allow a cash injection of £270 million with the prospect of further low-cost borrowings which could accelerate the pace of infrastructure investment.
Mr Pearson said: “The Reinvestment and Reform Initiative, with its innovative financing arrangements, combined with the possibility of using former military sites for regeneration, provides a truly dynamic opportunity to make positive differences to Northern Ireland.”
The Order provides for the power to set up a development corporation or an urban regeneration company in collaboration with other bodies and organisations with an interest. Partnerships with local communities and local businesses will also be an approach considered.
The Strategic Investment Board is intended to provide an innovative approach to managing and financing the infrastructure programme, so that resources can be used as wisely as possible to complement existing plans.
The Minister said: "The Board will be a valuable source of expert advice to help us to get our investment strategy right. It will also be a fresh source of practical assistance to departments and other public bodies in delivering individual projects of major importance to Northern Ireland."
He said that this would include looking at how projects might be financed, particularly by accessing further private sector finance in Public Private Partnerships.
(GMcG)
The draft Order sets out how a Strategic Investment Board would develop Northern Ireland's infrastructure in a way that makes best use of the means and resources available. The Order also sees the regeneration of military bases and security sites, which are to transfer free of charge for social and economic regeneration of local areas.
The move is part of the Reinvestment and Reform Initiative, which was set up by the devolved administration before its suspension on October 14.
The initiative is designed to address the substantial deficiencies in infrastructure and allow a cash injection of £270 million with the prospect of further low-cost borrowings which could accelerate the pace of infrastructure investment.
Mr Pearson said: “The Reinvestment and Reform Initiative, with its innovative financing arrangements, combined with the possibility of using former military sites for regeneration, provides a truly dynamic opportunity to make positive differences to Northern Ireland.”
The Order provides for the power to set up a development corporation or an urban regeneration company in collaboration with other bodies and organisations with an interest. Partnerships with local communities and local businesses will also be an approach considered.
The Strategic Investment Board is intended to provide an innovative approach to managing and financing the infrastructure programme, so that resources can be used as wisely as possible to complement existing plans.
The Minister said: "The Board will be a valuable source of expert advice to help us to get our investment strategy right. It will also be a fresh source of practical assistance to departments and other public bodies in delivering individual projects of major importance to Northern Ireland."
He said that this would include looking at how projects might be financed, particularly by accessing further private sector finance in Public Private Partnerships.
(GMcG)
Related Northern Ireland News Stories
Click here for the latest headlines.
22 January 2024
DoH Calls For Participants For New Obesity Strategic Framework
The Department of Health has invited the public to participate in the development of 'Heathy Futures', a new Obesity Strategic Framework. The Department launched two separate public consultations on the development of a new Regional Obesity Management Service and a new Obesity Strategic Framework which both close on 16 February 2024.
DoH Calls For Participants For New Obesity Strategic Framework
The Department of Health has invited the public to participate in the development of 'Heathy Futures', a new Obesity Strategic Framework. The Department launched two separate public consultations on the development of a new Regional Obesity Management Service and a new Obesity Strategic Framework which both close on 16 February 2024.
07 February 2024
Infrastructure Holds The Key To More Prosperous Society – O'Dowd
Infrastructure holds the key to unlocking a better and more prosperous society, new Minister for Infrastructure John O'Dowd has said. Speaking as he took up office at the Department for Infrastructure (DfI), the Minister said that while there were challenges to be faced, there were big opportunities too.
Infrastructure Holds The Key To More Prosperous Society – O'Dowd
Infrastructure holds the key to unlocking a better and more prosperous society, new Minister for Infrastructure John O'Dowd has said. Speaking as he took up office at the Department for Infrastructure (DfI), the Minister said that while there were challenges to be faced, there were big opportunities too.
27 March 2024
Infrastructure Minister Holds Meeting With Disability Action
Infrastructure Minister, John O'Dowd, has met with representatives of Disability Action to discuss issues of accessibility and inclusion in transport and travel.
Infrastructure Minister Holds Meeting With Disability Action
Infrastructure Minister, John O'Dowd, has met with representatives of Disability Action to discuss issues of accessibility and inclusion in transport and travel.
21 March 2024
BCC Unveils Refreshed Strategic Plan For Belfast City Centre
New plans to support the most vulnerable in Belfast while growing the economy, regenerating neighbourhoods and achieving climate targets have been published in a refreshed strategic plan for the city. First published in 2017, the Belfast Agenda set out joint vision for the city up to 2035.
BCC Unveils Refreshed Strategic Plan For Belfast City Centre
New plans to support the most vulnerable in Belfast while growing the economy, regenerating neighbourhoods and achieving climate targets have been published in a refreshed strategic plan for the city. First published in 2017, the Belfast Agenda set out joint vision for the city up to 2035.
21 March 2024
Craigavon Woman Jailed For Stealing £205,000 From Employers
A Craigavon woman has received a 23 month sentence for the theft of approximately £205,000 over an eight year period from two separate employers.
Craigavon Woman Jailed For Stealing £205,000 From Employers
A Craigavon woman has received a 23 month sentence for the theft of approximately £205,000 over an eight year period from two separate employers.