Nottingham Regeneration Limited

NRL set to continue

Nottingham Regeneration Limited (NRL) is to survive public spending cuts, it has been revealed - although there will be changes in personnel.

It had been rumoured that NRL would be shelved after dramatic cuts to public spending in the city.

A statement from Nottingham City Council read: "Nottingham City Council has recognised the particular value in retaining such an arms length/independent company with its commercial ethos at a time of recession."

"Despite reduced funding a small specialist regeneration team of experts many with private sector experience has been retained and a new public/private sector board has been constituted."

Mich Stevenson is to continue as Chairman assisted by Councillor Graham Chapman - Deputy Leader of Nottingham City Council and four other individuals including David Williams of Geldards Solicitors, Peter Hipperson formerly of Deloitte, professor Roy Morledge of Nottingham Trent University and Diana Gilhespy who was Executive Director of Regeneration at Emda.

NRL said key priorities for the months ahead include "maximising the regeneration benefits of the city council's extensive property portfolio" and helping ensure the regeneration of Nottingham Train Station and Broadmarsh Shopping Centre and the extension of Victoria Centre scheme take place.

The team said it will also help to accelerate development opportunities in Southside, Eastside and Waterside regeneration areas.

Stevenson said: "NRL has played a pivotal role in the regeneration of Nottingham over the past decade and it is excellent news that the City Council assisted by the private sector wishes to continue with their commitment to the work of the company."

Chapman added: "The physical regeneration of Nottingham is vital if we are to help create new and sustain existing jobs. NRL should continue to play a major role alongside Nottingham City Council and the Invest in Nottingham Team we are making the most of the city's enormous economic potential."

NRL was originally set up in 1998 emerging out of the Lace Market Heritage Trust as a public/private partnership charged with tackling physical regeneration within the city. Past projects include the likes of Nottingham Science Park, Southglade Food Park and the transformation of the Sneinton Market area.