Union Terrace Gardens, the City Garden Project and the TIF report : The Dodgy Dossier STV

news online, 19 Jan 2012: The planned transformation of Aberdeen's Union Terrace Garden could create 6500 new jobs in the city, according to new figures. The City Garden Project would also generate more than 120m for Aberdeen's economy every year, the report from PricewaterhouseCoopers states. BBC news online, 19 Jan 2012: Aberdeen's controversial City Garden Project could create about 6,500 new jobs, it has been claimed. A report from consultants PwC into the plans for Union Terrace Gardens also says it could inject 122m into the local economy annually. Evening express, 19 Jan 2012: Aberdeens City Garden Project will create thousands of jobs Report spells out benefits of scheme A PLAN to raise Union Terrace Gardens to street level would create thousands of jobs and be a huge money-spinner for Aberdeen, according to consultants. A report for Aberdeen council has spelled out the business benefits of the City Garden Project, which would create acres of new space. The 6,500 jobs would be in retail and leisure (468), culture and the arts (180), business (2,340) and industry (3,300). Briefing paper to Councillors, 19 Jan 2012, Gerry Brough: The TIF Business Case in Appendix 2, highlights the potential economic impact the CGP will have on the city. Based on the research carried out by PwC, it is expected that the CGP will have a major catalytic role in delivering City Centre regeneration and, should this be realised, a consequent significant impact on new job creation and gross value added within the City (up to 6,500 full time equivalent new jobs and an average additional GVA of 122.6 million per year to 2039). RECOMMENDATION(S) That Council: (i) Engage in future activities required to progress the CGP (ii) Instructs officers to enter into negotiations with a view to putting in place a development agreement with Aberdeen City Garden Trust (ACGT) and/or their representative PriceWaterhouseCooper TIF Business Case Report, 21 Jan 2012: Page 31, section 4.4.1: The red line [the region for which TIF borrowing calculations have been made] takes in the City Centre[and] two satellite development areas.. Dyce Drive and the area surrounding AECC These two areas.. offer 5-6 development sites totaling..300 hectares of development land. The CCRS [the 5 city centre developments, of which one is the CGP] will accelerate these developments [the 5-6 industrial developments] and positively impact on the mix of development on these sites. [Subsequent sections of the report develop financial projections for the 10-11 development as a whole and do not provide any figures for the City Garden Project on its own]. Conclusion Information was fed to the press, public and Councillors on 19th January that deliberately misrepresented the TIF Business Case report. In fact, the report shows no evidence that the City Garden Project will create a single job or will generate a single pound for Aberdeens economy. The report was commissioned at an estimated cost of 100,000, part of which was paid for by a grant from Scottish Enterprise. (Source: Freedom of Information requests).

Iain Richardson 2012

info@commongoodaberdeen.org

24 January