Salford regeneration body will earn support services partners at least £300m.
A new joint venture has been launched to regenerate Salford. Urban Vision comprises property and infrastructure consultancy Capita Symonds, supports services company Morrison and Salford City Council, a metropolitan district to the west of Manchester city centre.
The value of the contract to the support services partners is worth £300m over a 12 year period and this could be extended a further three years.
Urban Vision will oversee a four-fold increase in investment in the city’s roads from £1.5m to around £7 as year until 2010.
Meanwhile, around 400 employees within the Council’s Development Services Directorate will be placed fully under Urban Vision’s management for the duration of the project.
Morrison chief operating officer, David Tydeman, said: “We’re delighted at the prospect of working with Salford City Council. We’re very excited about these innovative working arrangements, which have been adopted to ensure Salford sees an improvement in the performance against key national and local indicators.”
“We anticipate a great deal of interest from other councils looking at the approach we are taking,” he added.