§ Mr. HumeTo ask the Secretary of State for Northern Ireland what the capital investment by Government Departments in the Laganside development in Belfast has been; and how much money has been earmarked by Government for the capitalisation of the Ilex Corporation in Derry to develop the Ministry of Defence lands. [162936]
§ Mr. SpellarThe information is as follows:
Laganside
The amount of capital investment by Government Departments in the Laganside Development in Belfast from 1989 until now has been £129 million.
Laganside will wind up some time in the future by which time many of the capital assets will be either sold off, net proceeds being transferred back to the Department for Social Development, or some assets such as the Lagan Walkway and Weir (value £35 million) being retained in public ownership.
Ilex
Government expect shortly to receive an interim bid for funding from Ilex Urban Regeneration Company, under the Integrated Development Fund in advance of an Integrated Development Plan for the North West. This plan will inform future capital investment decisions.
There are plans for the Department for Social Development to acquire the Fort George site later in 2004 for £12 million. The Ebrington site (value circa £4 million) was transferred at nil cost to the Office of the First Minister and Deputy First Minister in December 2003 as part of the Reinvestment and Reform Initiative. It was also recently announced that Government have agreed in principle to acquire the Clooney Barracks site however the transfer value has yet to be determined.