Mayor of London Boris Johnson has announced a £50 million fund for riot regeneration. The funding is in addition to the £50 million Outer London Fund designed to grow economic activity and drive employment in parts of London, of which 20 boroughs have already received £10 million so far.
The Mayor said: “We have always recognised the importance of improving London’s town centres and clearly after the destruction caused by the recent events across the city this is a bigger challenge than ever. That is why I am allocating £50 million to ensure that these areas are regenerated quickly and transformed into safe, attractive, vibrant and economically successful places to live, work and invest in.”
Meanwhile, the government has announced it to will provide riot-recovery cash, with £30 million in funding to aid the clean up and rebuilding of communities. This is made up of a £10m recovery fund to help councils with the immediate costs of cleaning their areas, and a £20m High Street Support Scheme – funded jointly by the Departments for Communities and Local Government and Business Innovation and Skills – set up to help get businesses trading again.
Boris Johnson will speak at the Place West London Conference on October 11, 2011. See here for the full programme and to book your place.