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Poole bridge is latest RIF project to win full funding
approval
12 March 2010
The Twin Sails Bridge in Poole has become the latest project
backed by the South West RDA’s Regional Infrastructure Fund to gain
full funding approval.
The Department for Transport has today [March 12] approved a
£14.14 million grant towards the £37 million project, which will
open up a large area of vacant land in Poole Harbour for housing
and employment, creating around 5,000 jobs.
The announcement follows a commitment from the South West RDA to
invest £9.96 million from its groundbreaking Regional
Infrastructure Fund (RIF) and means all the funding is now in
place.
Borough of Poole Council, which is spearheading the project, says
it will shortly appoint contractors and that the bridge will open
in 2012.
Ian Piper, the RDA’s Director of Development and Regeneration,
said: “This is a transformational project for Poole that will
unlock the huge regeneration potential of this site, creating
thousands of jobs, and is exactly the sort of project the RDA set
up the RIF to deliver.”
Councillor Brian Leverett, Leader of the Council said: “This is
an historic day for Poole. The Twin Sails Bridge is a world
class bridge and is a symbol of our ambition for the town. We
are very thankful to the South West RDA for its commitment to this
project.”
The RIF is an innovative £50 million 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 a development to happen.
The fund then reclaims the investment from private developers
usually through so-called Section 106 contributions collected by
local authorities, and the money can then be recycled to other
projects in the South West.
By providing a much-needed second harbour crossing, the Twin
Sails Bridge will open up 32 hectares of land for development where
more than 40 per cent of Poole’s homes will be delivered over the
next 20 years, along with employment space, shops, hotels and a new
quayside accessible to the public.
Other RIF investments in the region include £22 million for key
infrastructure needed to kick start the recession-delayed Cranbook
development, near Exeter, and a £7 million investment in Plymouth
City Council’s £19 million East End Community Transport Improvement
scheme, work on which started this month.
Ends
For more information contact:
Jason Clark, Deborah Clark Associates
Tel: 01208 77900
jason.clark@dca-pr.co.uk
Notes to Editors
The South West RDA works for and promotes a modern, stronger and
more resilient economy across South West England.
Our work involves creating better jobs, successful businesses,
more prosperous cities, towns and villages within an economy that
uses less carbon and will still be thriving in 20, 50 and 100 years
time.