AN extra £9m is likely to be put towards a key regeneration project in the North-East.
At a meeting of Middlesbrough Borough Council's cabinet today, the money is expected to be earmarked for the Middlehaven regeneration project.
The scheme, considered to be of vital economic importance to the Tees Valley, was devised by the now defunct Teesside Development Corporation (TDC).
It secured £18m from Europe to decontaminate disused dock land, refurbish it and carry out landscaping. A further £6m was requested to build a separate junction with the A66.
After the demise of the TDC, English Partnerships, One NorthEast and Middlesbrough council took up the plan and expanded it to cover a wider area.
A broad assessment has been made of its likely cost over a ten to 12-year period.
Included in the expenses are making further road improvements, providing public transport, buying land, and building a primary school and shops to cater for proposed residential development.
The cost of creating the basis for an "urban village", which would then attract outside investment, is estimated at £59m, of which the bulk would come from Europe and One NorthEast.
In a joint report to the cabinet, corporate directors Andy Snowden and John Richardson say that it is appropriate that the council shows its commitment to the project by making a financial contribution to Middlehaven of about £9m
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