RICS praises report calling for new regeneration framework

The Royal Institution of Chartered Surveyors (RICS) has welcomed the publication of the House of Commons Transport, Local Government and Regions (DTLR) Select Committee Report on the need for a new regeneration framework.

Among the report's many recommendations is the need to better publicise government initiatives which provide help to private business and local authorities to develop brownfield sites.

In an effort to create awareness of such schemes across the industry, RICS and the Office of the Deputy Prime Minister (ODPM) are soon to launch an online guide to inform potential developers about gap funding and how to get it. It will help answer criticism voiced by the DTLR select committee that few people know anything about the aid which is available.

Gap funding is the practice of using public money to make the development of brownfield sites, many of which are contaminated or derelict, more viable. The select committee stated that Regional Development Agencies direct development must in future be undertaken according to the principle "urban brownfield first."

Chairman of RICS regeneration panel Nigel Smith said:  "I heartily endorse the report's findings and would urge the government and RDAs to implement the committee's recommendations. It is vital that rapid progress is made towards a new European framework for regeneration."