Over the next four years, East Sussex County Council will invest £2million of parking surpluses to support the overall redevelopment of Eastbourne town centre. This is to support and complement the proposed £70m investment by Legal & General in the redevelopment of the Arndale Centre.The funding was agreed by the Lead Cabinet Member for Transport and Environment, Councillor Carl Maynard, at a meeting on Monday (23/07/12). The County Council investment will be supported by funding from Legal & General and will pay for improvements including the redevelopment of Terminus Road. Councillor Maynard said: “Supporting this project is clearly in line with our ambitions to encourage economic regeneration across the county. “Given the financial climate at this particular time, I feel we are very lucky to have a commitment from Legal & General to invest in Eastbourne through such a significant development as the Arndale Centre.“It is a fine example of how the public and private sector can work together on an initiative for the benefit of the local community.”The decision follows the approval on Thursday of a £500,000 contribution towards the redevelopment from the ‘Economic Intervention Fund’. The Fund - part of the Council’s £500m Budget for Growth - was agreed at a meeting by the new Lead Member for Economy, Councillor Matthew Lock on Thursday.
The Leader of The Conservative Group on Eastbourne Borough Council, Cllr. David Elkin said, “This is excellent news and highlights that when groups work together they achieve the very best result. This investment will be used to compliment the street scene around the new development and to enable improved traffic flows. We want to see our shops occupied to full capacity, businesses thriving and jobs created, especially for our young people in Eastbourne. This investment by the County Council supported by funding from Legal & General is a huge step forward to the regeneration of our town centre.” "I will be looking forward to listening to the ideas of the local business community and other local stakeholders to ensure that this cash is spent in order to permanently benefit the feel, the look, and the prosperity of Eastbourne Town Centre".
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