This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/uk-wales-politics-28025673
The article has changed 2 times. There is an RSS feed of changes available.
Previous version
1
Next version
Version 0 | Version 1 |
---|---|
Regeneration body 'did nothing wrong' | Regeneration body 'did nothing wrong' |
(about 9 hours later) | |
A former board member of a regeneration fund has spoken of his relief after police confirmed they are not going to carry out a criminal investigation. | |
Chris Holley insisted the Regeneration Investment Fund for Wales (RIFW) had "done nothing wrong". | Chris Holley insisted the Regeneration Investment Fund for Wales (RIFW) had "done nothing wrong". |
The public spending watchdog is investigating the fund and due to publish its findings in the autumn. | The public spending watchdog is investigating the fund and due to publish its findings in the autumn. |
Concerns were raised after it emerged the fund sold 16 sites privately rather than by public auction. | Concerns were raised after it emerged the fund sold 16 sites privately rather than by public auction. |
In total, 16 sites across Wales were sold for £21m in 2012 to a company based in Guernsey called South Wales Land Developments. It says it paid above the market rate. | In total, 16 sites across Wales were sold for £21m in 2012 to a company based in Guernsey called South Wales Land Developments. It says it paid above the market rate. |
'Alarming' | 'Alarming' |
Concerns were first raised by Conservative AM Byron Davies about the way the sites were sold. | Concerns were first raised by Conservative AM Byron Davies about the way the sites were sold. |
Instead of an open tendering process, 18 property agents and developers were approached and the sites were bundled together in one portfolio rather than sold individually. | Instead of an open tendering process, 18 property agents and developers were approached and the sites were bundled together in one portfolio rather than sold individually. |
Mr Holley, former leader of Swansea Council, was an official representative of local government on the board. | Mr Holley, former leader of Swansea Council, was an official representative of local government on the board. |
Responding to South Wales Police's decision not to launch a criminal investigation, he said: "I'm very relieved about that because I know we have done nothing wrong. | Responding to South Wales Police's decision not to launch a criminal investigation, he said: "I'm very relieved about that because I know we have done nothing wrong. |
"We've followed the guidelines, the rules, we have done everything according to what the governance of any board should do and I find it quite alarming that people who have volunteered to go on and help to regenerate Wales are then subject to this type of thing." | "We've followed the guidelines, the rules, we have done everything according to what the governance of any board should do and I find it quite alarming that people who have volunteered to go on and help to regenerate Wales are then subject to this type of thing." |
He warned people such as agents, solicitors and barristers could be put off working with the Welsh government. | He warned people such as agents, solicitors and barristers could be put off working with the Welsh government. |
The land varied from farms in Gwynedd to a former industrial site in the Cynon Valley and part of a business park in Newport. | The land varied from farms in Gwynedd to a former industrial site in the Cynon Valley and part of a business park in Newport. |
The area with the greatest value was 120 acres of farmland near the village of Lisvane on the northern edge of Cardiff, which had been in public ownership for decades. | The area with the greatest value was 120 acres of farmland near the village of Lisvane on the northern edge of Cardiff, which had been in public ownership for decades. |
Claw back | Claw back |
The land was sold for around £15,000 an acre but four months later it was included in Cardiff Council's planning blueprint for new housing. | The land was sold for around £15,000 an acre but four months later it was included in Cardiff Council's planning blueprint for new housing. |
This paved the way for it to potentially rise in value by tens of millions of pounds. | This paved the way for it to potentially rise in value by tens of millions of pounds. |
There is a claw back mechanism which means the taxpayer will be able to share in any increase but that figure has not been revealed. | There is a claw back mechanism which means the taxpayer will be able to share in any increase but that figure has not been revealed. |
When asked why the board did not postpone the sale, Mr Holley said there was too much uncertainty in the planning process to know what was going to happen. | When asked why the board did not postpone the sale, Mr Holley said there was too much uncertainty in the planning process to know what was going to happen. |
He said it was a "very long drawn out process" with "an enormous amount of legal activity". | He said it was a "very long drawn out process" with "an enormous amount of legal activity". |
Safeguard | Safeguard |
RIFW was set up to redevelop town centres using European and Welsh government funds. | RIFW was set up to redevelop town centres using European and Welsh government funds. |
Mr Holley said many communities would now lose out on regeneration projects because the scheme, as it was originally intended, had been brought to a close. | Mr Holley said many communities would now lose out on regeneration projects because the scheme, as it was originally intended, had been brought to a close. |
The Welsh government said it was working with RIFW to safeguard the remaining "pipeline" of work. | The Welsh government said it was working with RIFW to safeguard the remaining "pipeline" of work. |
Previous version
1
Next version