Coventry could be the first British city to form a joint venture partnership to run its entire city centre. A proposal to set up a company will go before the Council’s Development and Economic Policy Co-ordinating Committee next week. According to council sources, the venture is likely to get off the ground this summer.
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Coventry’s Assistant City Development Director Chris Beck said: “Obviously we want to set this up as quickly as possible but I can’t see it happening for the next three months. As we’re the first city to do it, we’re going into unchartered waters.”
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Beck hopes the £1.6m spent by the council each year on the city centre will increase by at least another £1m once the joint venture is formed thanks to EU funding and private sector money.
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EGi News 25/03/96
