A £1.14b investment fund has been agreed as part of an East Midlands devolution deal, driving regeneration and creating a directly elected Mayor role responsible for delivering local priorities
An East Midlands devolution deal has been announced by the Department for Levelling Up, Housing and Communities for Derbyshire and Derby, Nottinghamshire and Nottingham.
Levelling Up Secretary Greg Clark will sign the deal, which will see the area appoint a directly elected mayor, responsible for delivering local priorities, backed by a new £38m per year investment fund, totalling £1.14b over 30 years.
Mayoral Combined County Authority will deliver new homes
A new Mayoral Combined County Authority will be created, with control over the core adult education budget, to boost skills in the region, as well as the ability to increase control over transport infrastructure.
The new East Midlands Combined County Authority will also be granted control of over £17m of additional funding for the building of new homes on brownfield land in 2024/25, subject to sufficient eligible projects for funding being identified.
A further £18m has been agreed to support housing priorities and drive net zero ambitions into the area.
A new Mayor will be directly elected to lead the regeneration of the region
The new mayor will also be granted powers to drive regeneration, with compulsory purchase powers and the ability to designate Mayoral development areas and establish Mayoral Development Corporations to promote growth and build new homes.
It is hoped that, subject to Parliamentary agreement, the first mayoral election could take place in May 2024.
Levelling up secretary Greg Clark said:
“I am impressed by the way councils in the region have come together to agree the first deal of this kind in the country, which will benefit residents in all of the great cities, towns and villages across the area of Derbyshire and Nottinghamshire.
“Taking decisions out of Whitehall and putting them back in the hands of local people is foundational to levelling up and this deal does that.”
In a joint statement, Ben Bradley MP, leader of Nottinghamshire County Council, Barry Lewis, leader of Derbyshire County Council, Chris Poulter, leader of Derby City Council, and David Mellen, leader of Nottingham City Council, said:
“We welcome the £1.14b devolution deal from the government on offer for our region. It’s fantastic news.
“As Leaders, we have all fought for a fairer share for our cities and counties, and a bigger voice for our area, to give us the clout and the influence we deserve, and to help us live up to our full potential.
“This deal would help make that a reality, creating more and better jobs through greater investment in our area, with increased economic growth, better transport, housing, skills training, and an enhanced greener environment, as we move towards being carbon neutral. These are what we all want to see, and we will work together for the common good of the East Midlands.
“There is a lot still to be agreed, and this is the beginning of the journey, not the end. We’re determined to build on this deal over time, as other areas have done.”
