| Last Updated Sunday 14th December 2008 |
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£500,000 LEVY IF YOU WANT TO BUILD PRINCES STREET HOTEL Tie are seeking to get further funds from the so-called tram levy from any companies wanting to develop along the route. £3 million has already been raised from the levy, although agreements are in place for a further £9 million. In addition any further developments along the route are likely to see extra funds asked for. This includes a expected £500,000 from Deramore who want to build the first new hotel on Princes Street for 50 years.
Cllr Phil Wheeler did not give details of amounts likely to be asked for, but said: “Developers are well aware of the benefits that being located on a tram line bring and despite economic downturn, sites are still actively being pursued along the route. When any new development comes to fruition, a contribution to the transport network is sought, but given the economic impact associated with being adjacent to the tram it's reasonable to expect developers to contribute more."
Source: The Scotsman
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