Environment secretary John Gummer is backing a £200,000 project to study setting up and funding US-style town centre Improvement Zones in the UK.
Speaking at the launch of the new offices of the Association of Town Centre Management which is leading the study, Gummer said the Department of the Environment would contribute £60,000 towards the costs.
The study will assess the commitment from the public and private sector and explore how funds could be raised to improve town centres. Over a dozen towns and London boroughs have expressed interest in taking part in the study.
Gummer stressed that a UK system would be based on voluntary contributions rather than a local tax.
He said: “Effective, economically viable regeneration of our town and city centres is a vital part of the Government’s strategy for regeneration…Similar approaches in North America have resulted in increased town centre sales, improved property values, reduced crime and an increase in people using the town centre area.”
EGi News 7/11/96
