Boris Johnson has confirmed plans to invest £23 million in the regeneration of riot-hit Croydon.
The Mayor of London made the announcement today, along with proposals for other town centres affected by the August disturbances.
The money is a large chunk of the Mayor’s £70m Regeneration Fund, set up in August to help repair the damage caused to high streets and town centres. £20m was secured from central Government and the rest from City Hall.
Mr Johnson said he is investing £23m to help “return Croydon to its former glory as a major commercial centre and contributor to the capital’s economy” by supporting projects and stimulating private investors.
Plans include £5m to improve the key entrances to Croydon; £7m to repair and strengthen Croydon’s high street; £6m to make Croydon better connected by removing barriers to walking and improving routes between key destinations; and £5m to attract business with a three year package of support.
The £70m fund will also see major investments in 13 other boroughs across the capital including Tottenham, whose regeneration plans will be revealed early in the New Year. These include £4-5m for a package of measures to improve Peckham Rye station and £2m to improve the public area south of Camden Town.
The regeneration proposals will be developed with communities and councils, with contracts awarded for the work to as many local businesses, employing as many local people, as possible.
Croydon is also set to benefit from the Mayor’s £50m Outer London Fund, designed to grow economic activity and drive employment in parts of London that are benefitting less directly from major infrastructure improvements like Crossrail and the 2012 Games.