£250m City Deal a majoropportunity, says auditor

Her Auditor’s Report 2020 said; ‘Councils must maximise these opportunities whilst carefully managing the risks presented by the challenging public sector backdrop.’

The report also noted ‘In May 2019, the UK Government announced a £105 million City Deal and Economic Growth Funding Package for the Derry City and Strabane District Area Deal.

“The investment package announced comprises a £50 million City Deal and a £55 million Inclusive Future Fund which aim to boost the economic potential of the city region and to support a more prosperous, united community and stronger society.

‘In May 2020 the NI Executive further confirmed match funding for both the City Deal and Inclusive Future Fund investment totalling £105 million bringing the total confirmed funding to £210 million.

‘Along with anticipated funding from project partners of £40 million, this will bring the total investment in the North West to around £250 million.

‘The investment will comprise three new innovation centres of excellence; enhancing and maximising digital connectivity; two major city and town centre regeneration schemes; tourism and skills investment; and a new Entry Level Medical School for Northern Ireland to be located at the Ulster University Magee.’