Economic Regeneration

Effective policies in relation to land use are essential to successful economic regeneration. The City Council has, of course, the key role in relation to land use via the planning process, but there are other players, in particular large private and institutional land owners and the County Council.

The value of land is a crucial factor in the regeneration process. Often seen as the engine driving the process, increases in land value can provide the funds to support many projects in the public realm, as well as deliver important infrastructure improvements. However major increases can also be a powerful brake on development if policies are not carefully managed.

Carefully thought through long term policies in relation to land use; policies that balance the varying needs of the local community, are therefore essential for economic regeneration to succeed and Investors can play a part in developing those policies.

Turning to capital, it is perhaps self-evident that regeneration needs money! This can be private money or public money, or indeed a combination of the two. And in relation to public funds, these may be local, regional, or national. More often than not major projects will need a combined public/private investment and investors, as a public/private body, can play a part in developing funding packages. And, as mentioned above, increases in land value, if carefully managed, can provide a valuable source of new funds.

It is arguable that the original focus of Investors, ‘to develop those sites in greater Lincoln that are otherwise undeliverable…’, risked excluding the people, or social element of economic regeneration. In practice this may not have been the case, but it is important that the people side of the regeneration equation is always included in the development of any project. Without that we are simply throwing ‘bricks and mortar’ at the problem, which will not provide sustainable solutions.

Our work in developing sites is about improving our environment, whether we are turning a derelict piece of land into a public park or building an office complex. The ‘quality of life’ that we prize so much in greater Lincoln depends for its continuance on careful consideration of the environmental impact of regeneration policies. And this is not just an issue for ‘Historic Lincoln’ or for the ‘rural fringe’. Improving the environment for everyone living, working and playing in Greater Lincoln is an essential part of progress and is central to our mission.