Tax increment financing for Leith Harbour
Not sure if this is news or not but £84m has been approved to pay for infrastructure to help redevelop the docks under the so called Tax Increment Financing scheme from the Scottish Futures Trust.
http://www.heraldscotland.com/business/corporate-sme/scots-councils...
Effectively, the Edinburgh Council gets the funds as a loan which it repays by using future collections of business rates.
Sounds like spending the money is being held up by the takeover of Forth Ports which owns the land by Arcus.
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Replies to This Discussion
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Permalink Reply by Ally Tibbitt on -
This was announced a fair while ago, and it seems uncertain whether the money will ever be spent.
See: http://www.heraldscotland.com/business/corporate-sme/edinburgh-s-70...
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