£10m regeneration fund for Derby is unveiled

Derby City Council has started a £10m fund to help regenerate the city.

The money will be used to support new development, which will include new commercial offices being built in the city centre.

Funding from £400,000 to £4m will be made available to private sector companies wanting to work alongside the city council on property projects.

The authority said the fund had been established because of the current economic climate.

'Imaginative applications'

Adam Wilkinson, chief executive of Derby City Council, said: "An essential next step in Derby's regeneration is the construction of the new commercial office space right in the heart of the city centre.

"This will complement the massive retail and leisure investment of the past few years.

"We are looking for imaginative applications from developers who are serious about taking forward their schemes with Derby City Council as a potential investment partner."

Councillor Harvey Jennings, leader of Derby City Council, said: "We understand that the market climate and the credit crunch had prevented important developments from being taken forward and we want to use the regeneration fund to help unblock this."

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