OLF cash coming to North London

Boris Johnson’s Outer London Fund has announced the distribution of funds to boroughs, with significant amounts heading north.

The Mayor of London’s Outer London Fund has awarded its second tranche of £50 million to 18 outer London boroughs. When added to the £70m for the riot regeneration fund, and the £57m match funding from other private and public sector partners, it adds to £177m investment in outer London.

The money is intended to boost local high streets, and deliver growth and new jobs, says the Mayor. It is spread across boroughs and 23 schemes.

North London beneficiaries include Barnet, where Boris chose to announce the London -wide numbers, Barnet get nearly £4m to invest in improvements to both Cricklewood and North Finchley town centres. Enfield receive £4.3m, Haringey £2m, and Waltham Forest £3.3m.

The Mayor of London, Boris Johnson, said: “London is the motor of the UK economy and prosperous local high streets are the collective beating heart. 2012 is set to be a great year in the capital and I am in no doubt that London will emerge strongly from the economic downturn but we must keep investing in our many high streets and town centres to address the historic neglect of these areas by others. Kick starting local growth is exactly what these Funds are designed to do.”

The Leader of Barnet Council, Councillor Richard Cornelius, said: “It is important we support our local economies during these difficult times and I am extremely pleased the Mayor of London has approved our bids for these two areas. Barnet Council has committed to putting in some funding along with the London borough of Brent from a variety of sources which will enable the Mayor’s office to release this funding. It is important we look at innovative ways to support town centres in the current economic climate. Our plans for a new landmark library in the arts depot will help support North Finchley as a cultural hub for the borough.”

Harindey’s £2m goes to Green Lanes, for the Green Lanes Traders Association to improve the southern entry to the high street, shop fronts including conservation work, and to install 14 “micro squares” on street corners.

Enfield’s grant will be spent on Ponders End High Street, improving the Enfield Business Centre in Enfield highway and create attractive public realm improvements to the High Street shopping areas from Ponders End to Enfield Lock.

Hackney, Enfield and Haringey will get funding from the £70m riot regeneration fund, with Haringey getting £41.3m, Enfield £750,000, and Hackney £5.3m. The Hackney grant will create a fashion outlet hub in Hackney town centre, building on the current success of the Burberry outlet store, bringing increased visitors and spending and aiming to create 200 jobs, while upgrading Hackney Central, including improvements to shop fronts and outdoor spaces. The Mayor is still discussing a possible award for LB Redbridge from this fund.

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