Finance centre’s profits ‘should be used to regenerate St Helier’

Finance centre’s profits ‘should be used to regenerate St Helier’

Environment Minister Steve Luce and St Helier Constable Simon Crowcroft said that they would like to see the funds generated by the Jersey Development Company’s project set aside to invest in the town.

In 2008, the States agreed to ring-fence £50 million from the profits of the States-owned JDC for projects in the capital as part of the Esplanade Quarter Masterplan, which is now called the Waterfront Masterplan.

Last month, Deputy Luce’s plans for a Jersey Infrastructure Levy on new developments in the Island was blocked.

It had been hoped that between £1 million and £1.5 million would be raised from the tax, much of which would have been used for regeneration projects in the capital.

Now, with the Waterfront Masterplan due to be reviewed and re-published this year, Deputy Luce has said that a ‘considerable amount’ could be made available if plans to sink La Route de la Libération, next to the JIFC, are abandoned by the JDC.

‘It should be remembered that the JDC already contribute a great deal to the regeneration of St Helier,’ he said.

‘There was the scheme at Charing Cross and also all the work they have done on the former Girl’s College. And next to Building Five [of the JIFC] there will be an area of park the size of the Royal Square.

‘But with the Jersey Infrastructure Levy, we were hoping to get as much as £1 million to £1.5 million per year. I would like to see that level of revenue somehow from elsewhere. I will be meeting [JDC managing director] Lee Henry to discuss this with him. If they come to the conclusion that they will not sink the road, then there will be a considerable amount of money available.’

Mr Crowcroft said that he was ‘not too concerned’ by the JIL being blocked because of the amount of money that was promised for St Helier in the original masterplan.

‘Once the masterplan review is completed, one of my priorities is going to be to ensure that the money goes from the JDC to the regeneration of St Helier as promised,’ he said. Originally under the Esplanade Quarter Masterplan, St Helier was to receive £70 million for regeneration, although in a later debate it was reduced to £50 million.’

He added that he thought plans to sink Route de la Liberation should be axed as the money could be better spent elsewhere.

‘I have always taken the view that if they sink the road all this traffic will go underground and it will be unpleasant,’ he said.

‘There will also be huge maintenance costs and we could be using money which could be better used in regeneration projects elsewhere.

‘There are other ways in which you could help people get across La Route de la Liberation, such as pedestrian crossings and even a bridge.’

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