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£12 million boost to kick start new community near Exeter
27 July 2009
Plans to start work on the new community at Cranbrook by March
2010 are a step closer after the South West RDA (Regional
Development Agency) approved a £12 million investment to kick start
the recession-delayed development.
Through its Regional Infrastructure Fund (RIF), the joint RDA
and Department for Transport investment will help pay for a package
of infrastructure projects which are vital to allow the first homes
to be built as well as releasing employment land to create
thousands of jobs.
The investment is part of a package of support from the public
sector which aims to deliver one of the first and largest 'low
carbon' developments in the UK. As such it will make a major
contribution to the RDA's ambitions for a low carbon economy in the
south west.
The £12 million RIF investment includes:
- £3m towards a £10m Clyst Honiton bypass - essential to enable
planned growth east of Exeter, the main growth area for Exeter over
the next 20 years
- £4m for the main road serving the first phase of Cranbrook and
linking to its new railway station
- £5m to forward fund a new primary school serving Cranbrook
Phase 1
It brings to £22 million the total investment in the East of
Exeter area through the RIF, following RDA approval in 2008 of £10
million towards a new rail station for Cranbrook and improvements
to junctions 29 and 30 of the M5. Together the investments will
allow for the initial development of 2,900 homes at Cranbrook and
75 hectares of land to support businesses. This will help create up
to 4,500 jobs and enable key projects to proceed including the
Skypark business park and Exeter Science Park.
Ian Piper, Director of Development & Regeneration, for the
South West RDA, said: "This investment shows how we can help tackle
the effects of the recession, plan for long term growth and build a
low carbon economy which fits with our own low carbon aspirations
and follows on from our designation last week as the UK's first Low
Carbon Economic Area.
"It means work to create thousands of new jobs and new homes can
get under way, delivering the environmentally sustainable growth
that is vital to our long term economic future and putting the
region in a great position to make the most of the economic
recovery when it comes."
The RDA's Regional Infrastructure Fund (RIF) is an innovative
fund which delivers vital infrastructure much earlier than it might
otherwise be provided. Infrastructure is often the key element
that, once in place, allows the rest of any development to happen.
The fund then reclaims the investment from private developers
usually through so-called Section 106 contributions collected by
local authorities.
The proposed biomass Combined Heat and Power energy centre for
Cranbrook received a boost last week when the Government announced
£2.5 million funding for the scheme through its 'low carbon
infrastructure fund'. In making Cranbrook low carbon it is
estimated 10,000 tonnes of CO2 a year could be saved on the first
phase of homes.
The Cranbrook New Community Partners [Hallam Land Management,
Persimmon Homes, Redrow Homes and Taylor Wimpey Homes] issued a
joint statement of support and are delighted at the news of
confirmation of much needed investment support. A spokesman for the
Consortium said: "Delivery of the Cranbrook scheme is challenging,
particularly in the current very difficult economic climate.
Without the investment support it would simply not be achievable at
this time. The partners remain hopeful that with the recent
announcements we are now very close indeed to achieving this
crucial objective and being able to launch Cranbrook."
Councillor Sara Randall Johnson, Leader of East Devon District
Council, said: "This is a massive vote of confidence for the
credibility of the work we and our partners are doing to the east
of Exeter. Against a backdrop of recession and a smaller public
purse, it's all the more heartening that they are keeping faith
with the projects that we and our partners have been working so
hard to implement.
"It's also a big vote of confidence in the strategic importance
of this area to the wider economy of the South West and in our
ability to complete the projects that we are on the cusp of
delivering as a partnership through the Growth Point Delivery
Team".
Devon County Council Cabinet Member for Economic Regeneration
and Strategic Planning, William Mumford, who also chairs the Exeter
and East Devon Growth Point said: "I am extremely pleased to hear
this news. Cranbrook is a key investment area for Exeter and Devon
and this boost for the road network and a new primary school for
Cranbrook is very welcome. The Devon economy is one of our top
priorities for the Council at this time and a strong partnership
between us, the districts and South West RDA are key to driving
projects like this forward."
Ends
Notes to editors:
1. The South West RDA leads the development of a sustainable
economy, investing to unlock the region's business potential. It is
helping companies respond to the economic crisis and charts a
course for recovery. The RDA is developing or expanding initiatives
which include: establishing a Business Loan Fund; coordinating the
response to large companies in difficulty; preparing for economic
recovery. More information can be found at www.southwestrda.org.uk.
2. The innovative Regional Infrastructure Fund (RIF) allows a
"re-cycling" of investments to deliver much needed infrastructure
much earlier than it might otherwise be provided. Once provided up
front, the Fund then reclaims the investment from private
developers through so-called Section 106 contributions (which are
collected by local authorities). These re-claimed funds are then
available for the RIF to support further up-front infrastructure
investments.
Contact:
John Casey
Deborah Clark and Associates
01208 77900
john.casey@dca-pr.co.uk
Contact Details
Name: John Casey
Tel: 01208 77900
Email: john.casey@dca-pr.co.uk