Regeneration Plan - Funding
To start the programme, we received a large amount of investment from government sources, which has since been added to with private sector finance.
£38 million was provided by the South East England Development Agency (SEEDA) for the first three years of the programme, which has since been supplemented by another £37 million.
On top of this, English Partnerships/Homes & Communities Agency have provided £15 million towards the Ore Valley site of Hastings Millennium Community. A total of £100m has come from the Higher Education Funding Council for England and the Learning and Skills Council for University Centre Hastings and Sussex Coast College. £10 million has come from other sources, mainly the European Union. And up to £220 million of extra government funding is being invested into the road network. This is all in addition to the local authorities' on-going spending plans.
We have also received significant private sector investment to move on with later phases of the development programme.
