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Archive
1997-10-22 RTK-002
Railtrack plc
Railtrack to introduce matching funding Policy to benefit local communities
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Press release
Railtrack plc
Railtrack to introduce matching funding Policy to benefit local communities
Railtrack has agreed to match local authorities’ funding for station or lineside projects which, while not necessarily sustaining an ordinary business case, will benefit local communities.
Installation of ramps for disabled users, improvements to security at stations - including extra lighting - the remodelling of station forecourts to allow better bus or taxi access, the removal of derelict lineside structures and station or lineside planting schemes, all fall within possible projects.
Announcing the scheme at a meeting between Railtrack and local authorities, Passenger Transport Executives and rail users consultative committees, in Birmingham today, Commercial Director Richard Middleton said: "The amounts will be reviewed when the extent of the take up becomes clear. We do, however, expect our matching policy to continue indefinitely and we are committed to maintain the availability of matching funds for not less than five years."
The matching funding policy is intended to capture social benefit, rather than commercial gain and Railtrack will only match funding put forward by a member of the railway industry where the funding is clearly a contribution to the local community, rather than a business development project.
Railnews Archive ::: 1997-10-22 RTK-002
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