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)