REGENERATION supremos delivering a £103million programme to revitalise East Lancashire's run down neighbourhoods are set to bid for more funds.
Elevate East Lancashire, one of nine "pathfinder" companies set up to transform dilapidated neighbourhoods, said an extra cash commitment from Chancellor Gordon Brown was welcome news for the region.
Mr Brown's latest spending review promised that the money pumped into the pathfinder areas would rise from £150million in 2005 to £450million in 2008. Tens of thousands of homes across East Lancashire will be affected, directly or indirectly, by the programme which many say is the biggest regeneration project since the end of World War Two. Deputy Prime Minister John Prescott came to Blackburn in March to announce details of a £103million grant. This ended months of waiting for Elevate and councils, who have been waiting to see if the £500million initially devoted to the nine areas by Gordon Brown would be added to.
The company will now begin bidding for more funds from the pathfinder project.
Elevate chief Max Steinberg said: "The announcement was very welcome and we are encouraged by it."
According to Mr Steinberg the Elevate programme in Blackburn, Pendle, Burnley, Rossendale and Hyndburn is well under way.
He said regeneration projects totalling £22.8million will be spent from now until the end of 2005 and a further £45.16million will be directed into run down housing during 2005 and 2006.
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