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03Feb94 UK: EP MAY TAKE STAKES IN NEW PROJECTS.

English Partnerships, the Government's new urban regeneration agency, may take a stake in projects rather than simply give grants to developers.Its deputy chairman, Sir Idris Pearce, told a Birmingham conference last week that EP wants to be flexible in how public money is used in urban schemes.The agency is looking both at taking equity stakes and at participating in projects by committing itself to use its compulsory purchase and development powers alongside private partners.One source said: 'EP can put its powers and prestige into the pot. In some cases it can bang heads together when no other player can.'EP formally begins operations on April 1, taking over the old City and Derelict Land Grant programmes and the factory building work of English Estates. CONSTRUCTION NEWS

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