Airport’s legacy could mean ‘green’ benefits

05 December 2007

Devon County Council is to create a £5M ‘green fund’ from money raised by the recent sale of Exeter Airport.

The council has agreed to invest £48M – the remaining profit raised by the sale – into six special funds to benefit residents across the county. From the original £60M received from January’s sale, £12M was used to pay off existing borrowings related to the airport.

Four of the funds will consist of £5M, including a green fund, which will promote carbon-reduction and environmental projects. A major projects/programmes fund of £26.5M will be established for significant schemes which meet the council’s strategic priorities, and a local projects fund of £1.55M will support smaller schemes. This will allow councillors to make a bid for up to £25,000 for a local project, together with the facility to club together for larger projects.

Council leader, Brian Greenslade, said: ‘This is a super opportunity to have a positive impact on people all across Devon.

‘This investment will enable us to deliver more services and projects at the heart of local communities, where they are most needed, in a way that will enable them to have a major say on how they are shaped.’

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Airport’s legacy could mean ‘green’ benefits

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